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AUD 3 Internal Control 14 - Operating Cycles Spending Cycle Flashcards

1
Q

Spending Cycle
(Purchases / Accounts Payable / Cash Disbursements)

The spending cycle of a business consists of ordering goods or services, receiving or using them, and paying for them.

A

Spending Cycle
(Purchases / Accounts Payable / Cash Disbursements)

The spending cycle of a business consists of ordering goods or services, receiving or using them, and paying for them.

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2
Q

Spending Cycle
(Purchases / Accounts Payable / Cash Disbursements)

The spending cycle of a business consists of or___ing goods or services, receiving or using them, and paying for them.

A

Spending Cycle
(Purchases / Accounts Payable / Cash Disbursements)

The spending cycle of a business consists of ordering goods or services, receiving or using them, and paying for them.

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3
Q

Spending Cycle
(Purchases / Accounts Payable / Cash Disbursements)

The spending cycle of a business consists of ordering goods or services, re____ing or using them, and paying for them.

A

Spending Cycle
(Purchases / Accounts Payable / Cash Disbursements)

The spending cycle of a business consists of ordering goods or services, receiving or using them, and paying for them.

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4
Q

Spending Cycle
(Purchases / Accounts Payable / Cash Disbursements)

The spending cycle of a business consists of ordering goods or services, receiving or using them, and p__ing for them.

A

Spending Cycle
(Purchases / Accounts Payable / Cash Disbursements)

The spending cycle of a business consists of ordering goods or services, receiving or using them, and paying for them.

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5
Q

Spending Cycle

The sp___ing cycle of a business consists of ordering goods or services, receiving or using them, and paying for them.

A

Spending Cycle

The spending cycle of a business consists of ordering goods or services, receiving or using them, and paying for them.

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6
Q

Spending Cycle

The spending cy___ of a business consists of ordering goods or services, receiving or using them, and paying for them.

A

Spending Cycle

The spending cycle of a business consists of ordering goods or services, receiving or using them, and paying for them.

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7
Q

Spending Cycle

The spending cycle of a bus_____ consists of ordering goods or services, receiving or using them, and paying for them.

A

Spending Cycle

The spending cycle of a business consists of ordering goods or services, receiving or using them, and paying for them.

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8
Q

Spending Cycle

The spending cycle of a business consists of ordering goods or services, receiving or using them, and paying for them.

In order to properly seg_______ the incompatible functions of authorization, recording, and custody,

A

Spending Cycle

The spending cycle of a business consists of ordering goods or services, receiving or using them, and paying for them.

In order to properly segregate the incompatible functions of authorization, recording, and custody,

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9
Q

Spending Cycle

The spending cycle of a business consists of ordering goods or services, receiving or using them, and paying for them.

In order to properly segregate the incompatible functions of au__________, recording, and custody,

A

Spending Cycle

The spending cycle of a business consists of ordering goods or services, receiving or using them, and paying for them.

In order to properly segregate the incompatible functions of authorization, recording, and custody,

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10
Q

Spending Cycle

The spending cycle of a business consists of ordering goods or services, receiving or using them, and paying for them.

In order to properly segregate the incompatible functions of authorization, r______ing, and custody,

A

Spending Cycle

The spending cycle of a business consists of ordering goods or services, receiving or using them, and paying for them.

In order to properly segregate the incompatible functions of authorization, recording, and custody,

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11
Q

Spending Cycle

The spending cycle of a business consists of ordering goods or services, receiving or using them, and paying for them.

In order to properly segregate the incompatible functions of authorization, recording, and cu___dy,

A

Spending Cycle

The spending cycle of a business consists of ordering goods or services, receiving or using them, and paying for them.

In order to properly segregate the incompatible functions of authorization, recording, and custody,

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12
Q

Spending Cycle

The spending cycle of a business consists of ordering goods or services, receiving or using them, and paying for them.

In order to properly segregate the incompatible functions of authorization, recording, and custody, the activities may include specific em___ees with each of the following duties:

A

Spending Cycle

The spending cycle of a business consists of ordering goods or services, receiving or using them, and paying for them.

In order to properly segregate the incompatible functions of authorization, recording, and custody, the activities may include specific employees with each of the following duties:

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13
Q

Spending Cycle
(Purchases / Accounts Payable / Cash Disbursements)

The spending cycle of a business consists of ordering goods or services, receiving or using them, and paying for them.

In order to properly segregate the incompatible functions of authorization, recording, and custody, the activities may include specific employees with each of the following duties:

  • Purchasing manager – Approves purchase requests before they are processed and negotiates terms with vendors (authorization).
  • Purchasing clerk – Places orders with vendors (recording).
  • Receiving clerk – Receives delivery of goods from vendors (custody).
  • Payables clerk – Prepares payment voucher which is the basis for authorizing the issuance of a check to the vendor after verifying the accuracy of the vendor invoice and comparing supporting documents (recording).
  • Payables manager – Oversees the Posting of vouchers to appropriate purchase records (recording).
  • Treasurer – Signs and mails check for payment (custody).
  • Shipping department – Sends goods back to vendors when goods are nonconforming or a right to cancel an order is being exercised by the company (custody).
A

Spending Cycle
(Purchases / Accounts Payable / Cash Disbursements)

The spending cycle of a business consists of ordering goods or services, receiving or using them, and paying for them.

In order to properly segregate the incompatible functions of authorization, recording, and custody, the activities may include specific employees with each of the following duties:

  • Purchasing manager – Approves purchase requests before they are processed and negotiates terms with vendors (authorization).
  • Purchasing clerk – Places orders with vendors (recording).
  • Receiving clerk – Receives delivery of goods from vendors (custody).
  • Payables clerk – Prepares payment voucher which is the basis for authorizing the issuance of a check to the vendor after verifying the accuracy of the vendor invoice and comparing supporting documents (recording).
  • Payables manager – Oversees the Posting of vouchers to appropriate purchase records (recording).
  • Treasurer – Signs and mails check for payment (custody).
  • Shipping department – Sends goods back to vendors when goods are nonconforming or a right to cancel an order is being exercised by the company (custody).
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14
Q

Spending Cycle
(Purchases / Accounts Payable / Cash Disbursements)

The spending cycle of a business consists of ordering goods or services, receiving or using them, and paying for them.

In order to properly segregate the incompatible functions of authorization, recording, and custody, the activities may include specific employees with each of the following duties:

  • Purchasing manager
  • Purchasing clerk
  • Receiving clerk
  • Payables clerk
  • Payables manager
  • Treasurer
  • Shipping department
A

Spending Cycle
(Purchases / Accounts Payable / Cash Disbursements)

The spending cycle of a business consists of ordering goods or services, receiving or using them, and paying for them.

In order to properly segregate the incompatible functions of authorization, recording, and custody, the activities may include specific employees with each of the following duties:

  • Purchasing manager
  • Purchasing clerk
  • Receiving clerk
  • Payables clerk
  • Payables manager
  • Treasurer
  • Shipping department
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15
Q

Spending Cycle

The spending cycle of a business consists of ordering goods or services, receiving or using them, and paying for them.

In order to properly segregate the incompatible functions of authorization, recording, and custody, the activities may include specific employees with each of the following duties:

  • Purchasing ma_______
  • Purchasing clerk
  • Receiving clerk
  • Payables clerk
  • Payables manager
  • Treasurer
  • Shipping department
A

Spending Cycle

The spending cycle of a business consists of ordering goods or services, receiving or using them, and paying for them.

In order to properly segregate the incompatible functions of authorization, recording, and custody, the activities may include specific employees with each of the following duties:

  • Purchasing manager
  • Purchasing clerk
  • Receiving clerk
  • Payables clerk
  • Payables manager
  • Treasurer
  • Shipping department
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16
Q

Spending Cycle

The spending cycle of a business consists of ordering goods or services, receiving or using them, and paying for them.

In order to properly segregate the incompatible functions of authorization, recording, and custody, the activities may include specific employees with each of the following duties:

  • Purchasing manager
  • Purchasing c____
  • Receiving clerk
  • Payables clerk
  • Payables manager
  • Treasurer
  • Shipping department
A

Spending Cycle

The spending cycle of a business consists of ordering goods or services, receiving or using them, and paying for them.

In order to properly segregate the incompatible functions of authorization, recording, and custody, the activities may include specific employees with each of the following duties:

  • Purchasing manager
  • Purchasing clerk
  • Receiving clerk
  • Payables clerk
  • Payables manager
  • Treasurer
  • Shipping department
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17
Q

Spending Cycle

The spending cycle of a business consists of ordering goods or services, receiving or using them, and paying for them.

In order to properly segregate the incompatible functions of authorization, recording, and custody, the activities may include specific employees with each of the following duties:

  • Purchasing manager
  • Purchasing clerk
  • Receiving c____
  • Payables clerk
  • Payables manager
  • Treasurer
  • Shipping department
A

Spending Cycle

The spending cycle of a business consists of ordering goods or services, receiving or using them, and paying for them.

In order to properly segregate the incompatible functions of authorization, recording, and custody, the activities may include specific employees with each of the following duties:

  • Purchasing manager
  • Purchasing clerk
  • Receiving clerk
  • Payables clerk
  • Payables manager
  • Treasurer
  • Shipping department
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18
Q

Spending Cycle

The spending cycle of a business consists of ordering goods or services, receiving or using them, and paying for them.

In order to properly segregate the incompatible functions of authorization, recording, and custody, the activities may include specific employees with each of the following duties:

  • Purchasing manager
  • Purchasing clerk
  • Receiving clerk
  • Payables c____
  • Payables manager
  • Treasurer
  • Shipping department
A

Spending Cycle

The spending cycle of a business consists of ordering goods or services, receiving or using them, and paying for them.

In order to properly segregate the incompatible functions of authorization, recording, and custody, the activities may include specific employees with each of the following duties:

  • Purchasing manager
  • Purchasing clerk
  • Receiving clerk
  • Payables clerk
  • Payables manager
  • Treasurer
  • Shipping department
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19
Q

Spending Cycle

The spending cycle of a business consists of ordering goods or services, receiving or using them, and paying for them.

In order to properly segregate the incompatible functions of authorization, recording, and custody, the activities may include specific employees with each of the following duties:

  • Purchasing manager
  • Purchasing clerk
  • Receiving clerk
  • Payables clerk
  • Payables ma_____
  • Treasurer
  • Shipping department
A

Spending Cycle

The spending cycle of a business consists of ordering goods or services, receiving or using them, and paying for them.

In order to properly segregate the incompatible functions of authorization, recording, and custody, the activities may include specific employees with each of the following duties:

  • Purchasing manager
  • Purchasing clerk
  • Receiving clerk
  • Payables clerk
  • Payables manager
  • Treasurer
  • Shipping department
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20
Q

Spending Cycle

The spending cycle of a business consists of ordering goods or services, receiving or using them, and paying for them.

In order to properly segregate the incompatible functions of authorization, recording, and custody, the activities may include specific employees with each of the following duties:

  • Purchasing manager
  • Purchasing clerk
  • Receiving clerk
  • Payables clerk
  • Payables manager
  • Tre_____
  • Shipping department
A

Spending Cycle

The spending cycle of a business consists of ordering goods or services, receiving or using them, and paying for them.

In order to properly segregate the incompatible functions of authorization, recording, and custody, the activities may include specific employees with each of the following duties:

  • Purchasing manager
  • Purchasing clerk
  • Receiving clerk
  • Payables clerk
  • Payables manager
  • Treasurer
  • Shipping department
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21
Q

Spending Cycle

The spending cycle of a business consists of ordering goods or services, receiving or using them, and paying for them.

In order to properly segregate the incompatible functions of authorization, recording, and custody, the activities may include specific employees with each of the following duties:

  • Purchasing manager
  • Purchasing clerk
  • Receiving clerk
  • Payables clerk
  • Payables manager
  • Treasurer
  • Shipping de_________
A

Spending Cycle

The spending cycle of a business consists of ordering goods or services, receiving or using them, and paying for them.

In order to properly segregate the incompatible functions of authorization, recording, and custody, the activities may include specific employees with each of the following duties:

  • Purchasing manager
  • Purchasing clerk
  • Receiving clerk
  • Payables clerk
  • Payables manager
  • Treasurer
  • Shipping department
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22
Q

Spending Cycle

The spending cycle of a business consists of ordering goods or services, receiving or using them, and paying for them.

In order to properly segregate the incompatible functions of authorization, recording, and custody, the activities may include specific employees with each of the following duties:

  • P______ing manager
  • Purchasing clerk
  • Receiving clerk
  • Payables clerk
  • Payables manager
  • Treasurer
  • Shipping department
A

Spending Cycle

The spending cycle of a business consists of ordering goods or services, receiving or using them, and paying for them.

In order to properly segregate the incompatible functions of authorization, recording, and custody, the activities may include specific employees with each of the following duties:

  • Purchasing manager
  • Purchasing clerk
  • Receiving clerk
  • Payables clerk
  • Payables manager
  • Treasurer
  • Shipping department
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23
Q

Spending Cycle

The spending cycle of a business consists of ordering goods or services, receiving or using them, and paying for them.

In order to properly segregate the incompatible functions of authorization, recording, and custody, the activities may include specific employees with each of the following duties:

  • Purchasing manager
  • Pu_____ing clerk
  • Receiving clerk
  • Payables clerk
  • Payables manager
  • Treasurer
  • Shipping department
A

Spending Cycle

The spending cycle of a business consists of ordering goods or services, receiving or using them, and paying for them.

In order to properly segregate the incompatible functions of authorization, recording, and custody, the activities may include specific employees with each of the following duties:

  • Purchasing manager
  • Purchasing clerk
  • Receiving clerk
  • Payables clerk
  • Payables manager
  • Treasurer
  • Shipping department
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24
Q

Spending Cycle

The spending cycle of a business consists of ordering goods or services, receiving or using them, and paying for them.

In order to properly segregate the incompatible functions of authorization, recording, and custody, the activities may include specific employees with each of the following duties:

  • Purchasing manager
  • Purchasing clerk
  • Re____ing clerk
  • Payables clerk
  • Payables manager
  • Treasurer
  • Shipping department
A

Spending Cycle

The spending cycle of a business consists of ordering goods or services, receiving or using them, and paying for them.

In order to properly segregate the incompatible functions of authorization, recording, and custody, the activities may include specific employees with each of the following duties:

  • Purchasing manager
  • Purchasing clerk
  • Receiving clerk
  • Payables clerk
  • Payables manager
  • Treasurer
  • Shipping department
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25
Q

Spending Cycle

The spending cycle of a business consists of ordering goods or services, receiving or using them, and paying for them.

In order to properly segregate the incompatible functions of authorization, recording, and custody, the activities may include specific employees with each of the following duties:

  • Purchasing manager
  • Purchasing clerk
  • Receiving clerk
  • Pa____es clerk
  • Payables manager
  • Treasurer
  • Shipping department
A

Spending Cycle

The spending cycle of a business consists of ordering goods or services, receiving or using them, and paying for them.

In order to properly segregate the incompatible functions of authorization, recording, and custody, the activities may include specific employees with each of the following duties:

  • Purchasing manager
  • Purchasing clerk
  • Receiving clerk
  • Payables clerk
  • Payables manager
  • Treasurer
  • Shipping department
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26
Q

Spending Cycle

The spending cycle of a business consists of ordering goods or services, receiving or using them, and paying for them.

In order to properly segregate the incompatible functions of authorization, recording, and custody, the activities may include specific employees with each of the following duties:

  • Purchasing manager
  • Purchasing clerk
  • Receiving clerk
  • Payables clerk
  • Pa_____s manager
  • Treasurer
  • Shipping department
A

Spending Cycle

The spending cycle of a business consists of ordering goods or services, receiving or using them, and paying for them.

In order to properly segregate the incompatible functions of authorization, recording, and custody, the activities may include specific employees with each of the following duties:

  • Purchasing manager
  • Purchasing clerk
  • Receiving clerk
  • Payables clerk
  • Payables manager
  • Treasurer
  • Shipping department
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27
Q

Spending Cycle

The spending cycle of a business consists of ordering goods or services, receiving or using them, and paying for them.

In order to properly segregate the incompatible functions of authorization, recording, and custody, the activities may include specific employees with each of the following duties:

  • Purchasing manager
  • Purchasing clerk
  • Receiving clerk
  • Payables clerk
  • Payables manager
  • T________
  • Shipping department
A

Spending Cycle

The spending cycle of a business consists of ordering goods or services, receiving or using them, and paying for them.

In order to properly segregate the incompatible functions of authorization, recording, and custody, the activities may include specific employees with each of the following duties:

  • Purchasing manager
  • Purchasing clerk
  • Receiving clerk
  • Payables clerk
  • Payables manager
  • Treasurer
  • Shipping department
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28
Q

Spending Cycle

The spending cycle of a business consists of ordering goods or services, receiving or using them, and paying for them.

In order to properly segregate the incompatible functions of authorization, recording, and custody, the activities may include specific employees with each of the following duties:

  • Purchasing manager
  • Purchasing clerk
  • Receiving clerk
  • Payables clerk
  • Payables manager
  • Treasurer
  • S____ping department
A

Spending Cycle

The spending cycle of a business consists of ordering goods or services, receiving or using them, and paying for them.

In order to properly segregate the incompatible functions of authorization, recording, and custody, the activities may include specific employees with each of the following duties:

  • Purchasing manager
  • Purchasing clerk
  • Receiving clerk
  • Payables clerk
  • Payables manager
  • Treasurer
  • Shipping department
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29
Q

Spending Cycle
(Purchases / Accounts Payable / Cash Disbursements)

In order to properly segregate the incompatible functions of authorization, recording, and custody, the activities may include specific employees with each of the following duties:

• Purchasing manager

– Approves purchase requests before they are processed and negotiates terms with vendors (authorization).

A

Spending Cycle
(Purchases / Accounts Payable / Cash Disbursements)

In order to properly segregate the incompatible functions of authorization, recording, and custody, the activities may include specific employees with each of the following duties:

• Purchasing manager

– Approves purchase requests before they are processed and negotiates terms with vendors (authorization).

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30
Q

Spending Cycle

• Purchasing manager

– Ap_____s purchase requests before they are processed

A

Spending Cycle

• Purchasing manager

– Approves purchase requests before they are processed

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31
Q

Spending Cycle

• Purchasing manager

– Approves pur_____ requests before they are processed

A

Spending Cycle

• Purchasing manager

– Approves purchase requests before they are processed

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32
Q

Spending Cycle

• Purchasing manager

– Approves purchase requests b____e they are processed

A

Spending Cycle

• Purchasing manager

– Approves purchase requests before they are processed

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33
Q

Spending Cycle

• Purchasing manager

– Approves purchase requests before they are processed and negotiates terms with ve____s (authorization).

A

Spending Cycle

• Purchasing manager

– Approves purchase requests before they are processed and negotiates terms with vendors (authorization).

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34
Q

Spending Cycle

• Purchasing manager

– Approves purchase requests before they are p_____sed and negotiates terms with vendors (authorization).

A

Spending Cycle

• Purchasing manager

– Approves purchase requests before they are processed and negotiates terms with vendors (authorization).

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35
Q

Spending Cycle

• Purchasing manager

– Approves purchase requests before they are processed and ne______tes terms with vendors (authorization).

A

Spending Cycle

• Purchasing manager

– Approves purchase requests before they are processed and negotiates terms with vendors (authorization).

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36
Q

Spending Cycle

• Purchasing manager

– Approves purchase requests before they are processed and negotiates terms with vendors (auth________n).

A

Spending Cycle

• Purchasing manager

– Approves purchase requests before they are processed and negotiates terms with vendors (authorization).

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37
Q

Spending Cycle

• Pur____ing manager

– Approves purchase requests before they are processed and negotiates terms with vendors (authorization).

A

Spending Cycle

• Purchasing manager

– Approves purchase requests before they are processed and negotiates terms with vendors (authorization).

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38
Q

Spending Cycle

• Purchasing m__________

– Approves purchase requests before they are processed and negotiates terms with vendors (authorization).

A

Spending Cycle

• Purchasing manager

– Approves purchase requests before they are processed and negotiates terms with vendors (authorization).

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39
Q

Spending Cycle

In order to properly segregate the incompatible functions of authorization, recording, and custody, the activities may include specific employees with each of the following duties:

  • Purchasing manager
  • Purchasing clerk
  • Receiving clerk
  • Payables clerk
  • Payables manager
  • Treasurer
  • Shipping department

• Purchasing manager
– Approves purchase requests before they are processed and negotiates terms with vendors (authorization).

• Purchasing clerk
– Places orders with vendors (recording).

A

Spending Cycle

In order to properly segregate the incompatible functions of authorization, recording, and custody, the activities may include specific employees with each of the following duties:

  • Purchasing manager
  • Purchasing clerk
  • Receiving clerk
  • Payables clerk
  • Payables manager
  • Treasurer
  • Shipping department

• Purchasing manager
– Approves purchase requests before they are processed and negotiates terms with vendors (authorization).

• Purchasing clerk
– Places orders with vendors (recording).

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40
Q

Spending Cycle

In order to properly segregate the incompatible functions of authorization, recording, and custody, the activities may include specific employees with each of the following duties:

  • Purchasing manager
  • Purchasing clerk
  • Receiving clerk
  • Payables clerk
  • Payables manager
  • Treasurer
  • Shipping department

• Purchasing clerk
– Places orders with vendors (recording).

A

Spending Cycle

In order to properly segregate the incompatible functions of authorization, recording, and custody, the activities may include specific employees with each of the following duties:

  • Purchasing manager
  • Purchasing clerk
  • Receiving clerk
  • Payables clerk
  • Payables manager
  • Treasurer
  • Shipping department

• Purchasing clerk
– Places orders with vendors (recording).

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41
Q

Spending Cycle

• Purchasing clerk
– Places or___s with vendors (recording).

A

Spending Cycle

• Purchasing clerk
– Places orders with vendors (recording).

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42
Q

Spending Cycle

• Purchasing clerk
– Pl___s orders with vendors (recording).

A

Spending Cycle

• Purchasing clerk
– Places orders with vendors (recording).

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43
Q

Spending Cycle

• Purchasing clerk
– Places orders with v______s (recording).

A

Spending Cycle

• Purchasing clerk
– Places orders with vendors (recording).

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44
Q

Spending Cycle

• Purchasing clerk
– Places orders with vendors (re____ing).

A

Spending Cycle

• Purchasing clerk
– Places orders with vendors (recording).

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45
Q

Spending Cycle

• Pur____ing clerk
– Places orders with vendors (recording).

A

Spending Cycle

• Purchasing clerk
– Places orders with vendors (recording).

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46
Q

Spending Cycle

• Purchasing c____
– Places orders with vendors (recording).

A

Spending Cycle

• Purchasing clerk
– Places orders with vendors (recording).

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47
Q

Spending Cycle

In order to properly segregate the incompatible functions of authorization, recording, and custody, the activities may include specific employees with each of the following duties:

  • Purchasing manager
  • Purchasing clerk
  • Receiving clerk
  • Payables clerk
  • Payables manager
  • Treasurer
  • Shipping department

• Purchasing clerk
– Places orders with vendors (recording).

• Receiving clerk
– Receives delivery of goods from vendors (custody).

A

Spending Cycle

In order to properly segregate the incompatible functions of authorization, recording, and custody, the activities may include specific employees with each of the following duties:

  • Purchasing manager
  • Purchasing clerk
  • Receiving clerk
  • Payables clerk
  • Payables manager
  • Treasurer
  • Shipping department

• Purchasing clerk
– Places orders with vendors (recording).

• Receiving clerk
– Receives delivery of goods from vendors (custody).

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48
Q

Spending Cycle

In order to properly segregate the incompatible functions of authorization, recording, and custody, the activities may include specific employees with each of the following duties:

  • Purchasing manager
  • Purchasing clerk
  • Receiving clerk
  • Payables clerk
  • Payables manager
  • Treasurer
  • Shipping department

• Receiving clerk
– Receives delivery of goods from vendors (custody).

A

Spending Cycle

In order to properly segregate the incompatible functions of authorization, recording, and custody, the activities may include specific employees with each of the following duties:

  • Purchasing manager
  • Purchasing clerk
  • Receiving clerk
  • Payables clerk
  • Payables manager
  • Treasurer
  • Shipping department

• Receiving clerk
– Receives delivery of goods from vendors (custody).

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49
Q

Spending Cycle

• Receiving clerk
– Re_____es delivery of goods from vendors (custody).

A

Spending Cycle

• Receiving clerk
– Receives delivery of goods from vendors (custody).

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50
Q

Spending Cycle

• Receiving clerk
– Receives de____ry of goods from vendors (custody).

A

Spending Cycle

• Receiving clerk
– Receives delivery of goods from vendors (custody).

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51
Q

Spending Cycle

• Receiving clerk
– Receives delivery of goods from ve____s (custody).

A

Spending Cycle

• Receiving clerk
– Receives delivery of goods from vendors (custody).

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52
Q

Spending Cycle

• Receiving clerk
– Receives delivery of goods from vendors (cu___dy).

A

Spending Cycle

• Receiving clerk
– Receives delivery of goods from vendors (custody).

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53
Q

Spending Cycle

• Re____ing clerk
– Receives delivery of goods from vendors (custody).

A

Spending Cycle

• Receiving clerk
– Receives delivery of goods from vendors (custody).

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54
Q

Spending Cycle

• Receiving cl___
– Receives delivery of goods from vendors (custody).

A

Spending Cycle

• Receiving clerk
– Receives delivery of goods from vendors (custody).

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55
Q

Spending Cycle

In order to properly segregate the incompatible functions of authorization, recording, and custody, the activities may include specific employees with each of the following duties:

  • Purchasing manager
  • Purchasing clerk
  • Receiving clerk
  • Payables clerk
  • Payables manager
  • Treasurer
  • Shipping department

• Receiving clerk
– Receives delivery of goods from vendors (custody).

• Payables clerk
– Prepares payment voucher which is the basis for authorizing the issuance of a check to the vendor after verifying the accuracy of the vendor invoice and comparing supporting documents (recording).

A

Spending Cycle

In order to properly segregate the incompatible functions of authorization, recording, and custody, the activities may include specific employees with each of the following duties:

  • Purchasing manager
  • Purchasing clerk
  • Receiving clerk
  • Payables clerk
  • Payables manager
  • Treasurer
  • Shipping department

• Receiving clerk
– Receives delivery of goods from vendors (custody).

• Payables clerk
– Prepares payment voucher which is the basis for authorizing the issuance of a check to the vendor after verifying the accuracy of the vendor invoice and comparing supporting documents (recording).

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56
Q

Spending Cycle

In order to properly segregate the incompatible functions of authorization, recording, and custody, the activities may include specific employees with each of the following duties:

  • Purchasing manager
  • Purchasing clerk
  • Receiving clerk
  • Payables clerk
  • Payables manager
  • Treasurer
  • Shipping department

• Payables clerk
– Prepares payment voucher which is the basis for authorizing the issuance of a check to the vendor after verifying the accuracy of the vendor invoice and comparing supporting documents (recording).

A

Spending Cycle

In order to properly segregate the incompatible functions of authorization, recording, and custody, the activities may include specific employees with each of the following duties:

  • Purchasing manager
  • Purchasing clerk
  • Receiving clerk
  • Payables clerk
  • Payables manager
  • Treasurer
  • Shipping department

• Payables clerk
– Prepares payment voucher which is the basis for authorizing the issuance of a check to the vendor after verifying the accuracy of the vendor invoice and comparing supporting documents (recording).

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57
Q

Spending Cycle

• Payables clerk

– Prepares payment vou____

A

Spending Cycle

• Payables clerk

– Prepares payment voucher

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58
Q

Spending Cycle

• Payables clerk

– Pr______s payment voucher

A

Spending Cycle

• Payables clerk

– Prepares payment voucher

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59
Q

Spending Cycle

• Payables clerk

– Prepares pa________ voucher

A

Spending Cycle

• Payables clerk

– Prepares payment voucher

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60
Q

Spending Cycle

• Payables clerk

– Prepares payment voucher which is the basis for auth______ the issuance of a check to the vendor

A

Spending Cycle

• Payables clerk

– Prepares payment voucher which is the basis for authorizing the issuance of a check to the vendor

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61
Q

Spending Cycle

• Payables clerk

– Prepares payment voucher which is the basis for authorizing the issuance of a ch___ to the vendor

A

Spending Cycle

• Payables clerk

– Prepares payment voucher which is the basis for authorizing the issuance of a check to the vendor

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62
Q

Spending Cycle

• Payables clerk

– Prepares payment voucher which is the basis for authorizing the issuance of a check to the vendor after ve____ing the accuracy of the vendor invoice

A

Spending Cycle

• Payables clerk

– Prepares payment voucher which is the basis for authorizing the issuance of a check to the vendor after verifying the accuracy of the vendor invoice

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63
Q

Spending Cycle

• Payables clerk

– Prepares payment voucher which is the basis for authorizing the issuance of a check to the vendor after verifying the ac___acy of the vendor invoice

A

Spending Cycle

• Payables clerk

– Prepares payment voucher which is the basis for authorizing the issuance of a check to the vendor after verifying the accuracy of the vendor invoice

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64
Q

Spending Cycle

• Payables clerk

– Prepares payment voucher which is the basis for authorizing the issuance of a check to the vendor after verifying the accuracy of the vendor inv____ and comparing supporting documents (recording).

A

Spending Cycle

• Payables clerk

– Prepares payment voucher which is the basis for authorizing the issuance of a check to the vendor after verifying the accuracy of the vendor invoice and comparing supporting documents (recording).

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65
Q

Spending Cycle

• Payables clerk

– Prepares payment voucher which is the basis for authorizing the issuance of a check to the vendor after verifying the accuracy of the vendor invoice and co_____ing supporting documents (recording).

A

Spending Cycle

• Payables clerk

– Prepares payment voucher which is the basis for authorizing the issuance of a check to the vendor after verifying the accuracy of the vendor invoice and comparing supporting documents (recording).

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66
Q

Spending Cycle

• Payables clerk

– Prepares payment voucher which is the basis for authorizing the issuance of a check to the vendor after verifying the accuracy of the vendor invoice and comparing su_____ing documents (recording).

A

Spending Cycle

• Payables clerk

– Prepares payment voucher which is the basis for authorizing the issuance of a check to the vendor after verifying the accuracy of the vendor invoice and comparing supporting documents (recording).

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67
Q

Spending Cycle

• Payables clerk

– Prepares payment voucher which is the basis for authorizing the issuance of a check to the vendor after verifying the accuracy of the vendor invoice and comparing supporting documents (re____ing).

A

Spending Cycle

• Payables clerk

– Prepares payment voucher which is the basis for authorizing the issuance of a check to the vendor after verifying the accuracy of the vendor invoice and comparing supporting documents (recording).

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68
Q

Spending Cycle

• Pa_____s clerk

– Prepares payment voucher which is the basis for authorizing the issuance of a check to the vendor after verifying the accuracy of the vendor invoice and comparing supporting documents (recording).

A

Spending Cycle

• Payables clerk

– Prepares payment voucher which is the basis for authorizing the issuance of a check to the vendor after verifying the accuracy of the vendor invoice and comparing supporting documents (recording).

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69
Q

Spending Cycle

• Payables cl___

– Prepares payment voucher which is the basis for authorizing the issuance of a check to the vendor after verifying the accuracy of the vendor invoice and comparing supporting documents (recording).

A

Spending Cycle

• Payables clerk

– Prepares payment voucher which is the basis for authorizing the issuance of a check to the vendor after verifying the accuracy of the vendor invoice and comparing supporting documents (recording).

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70
Q

Spending Cycle

In order to properly segregate the incompatible functions of authorization, recording, and custody, the activities may include specific employees with each of the following duties:

  • Purchasing manager
  • Purchasing clerk
  • Receiving clerk
  • Payables clerk
  • Payables manager
  • Treasurer
  • Shipping department

• Payables clerk
– Prepares payment voucher which is the basis for authorizing the issuance of a check to the vendor after verifying the accuracy of the vendor invoice and comparing supporting documents (recording).

Payables manager
– Oversees the Posting of vouchers to appropriate purchase records (recording).

A

Spending Cycle

In order to properly segregate the incompatible functions of authorization, recording, and custody, the activities may include specific employees with each of the following duties:

  • Purchasing manager
  • Purchasing clerk
  • Receiving clerk
  • Payables clerk
  • Payables manager
  • Treasurer
  • Shipping department

• Payables clerk
– Prepares payment voucher which is the basis for authorizing the issuance of a check to the vendor after verifying the accuracy of the vendor invoice and comparing supporting documents (recording).

Payables manager
– Oversees the Posting of vouchers to appropriate purchase records (recording).

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71
Q

Spending Cycle

In order to properly segregate the incompatible functions of authorization, recording, and custody, the activities may include specific employees with each of the following duties:

  • Purchasing manager
  • Purchasing clerk
  • Receiving clerk
  • Payables clerk
  • Payables manager
  • Treasurer
  • Shipping department

Payables manager
– Oversees the Posting of vouchers to appropriate purchase records (recording).

A

Spending Cycle

In order to properly segregate the incompatible functions of authorization, recording, and custody, the activities may include specific employees with each of the following duties:

  • Purchasing manager
  • Purchasing clerk
  • Receiving clerk
  • Payables clerk
  • Payables manager
  • Treasurer
  • Shipping department

Payables manager
– Oversees the Posting of vouchers to appropriate purchase records (recording).

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72
Q

Spending Cycle

Payables manager

– Oversees the P___ing of vouchers to appropriate purchase records (recording).

A

Spending Cycle

Payables manager

– Oversees the Posting of vouchers to appropriate purchase records (recording).

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73
Q

Spending Cycle

Payables manager

– Oversees the Posting of vo___ers to appropriate purchase records (recording).

A

Spending Cycle

Payables manager

– Oversees the Posting of vouchers to appropriate purchase records (recording).

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74
Q

Spending Cycle

Payables manager

– Oversees the Posting of vouchers to appropriate purchase re____s (recording).

A

Spending Cycle

Payables manager

– Oversees the Posting of vouchers to appropriate purchase records (recording).

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75
Q

Spending Cycle

Payables manager

– O______es the Posting of vouchers to appropriate purchase records (recording).

A

Spending Cycle

Payables manager

– Oversees the Posting of vouchers to appropriate purchase records (recording).

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76
Q

Spending Cycle

Payables manager

– Oversees the Posting of vouchers to appropriate purchase records (re____ing).

A

Spending Cycle

Payables manager

– Oversees the Posting of vouchers to appropriate purchase records (recording).

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77
Q

Spending Cycle

Pa_____s manager

– Oversees the Posting of vouchers to appropriate purchase records (recording).

A

Spending Cycle

Payables manager

– Oversees the Posting of vouchers to appropriate purchase records (recording).

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78
Q

Spending Cycle

Payables ma______

– Oversees the Posting of vouchers to appropriate purchase records (recording).

A

Spending Cycle

Payables manager

– Oversees the Posting of vouchers to appropriate purchase records (recording).

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79
Q

Spending Cycle

In order to properly segregate the incompatible functions of authorization, recording, and custody, the activities may include specific employees with each of the following duties:

  • Purchasing manager
  • Purchasing clerk
  • Receiving clerk
  • Payables clerk
  • Payables manager
  • Treasurer
  • Shipping department

Payables manager
– Oversees the Posting of vouchers to appropriate purchase records (recording).

• Treasurer
– Signs and mails check for payment (custody).

A

Spending Cycle

In order to properly segregate the incompatible functions of authorization, recording, and custody, the activities may include specific employees with each of the following duties:

  • Purchasing manager
  • Purchasing clerk
  • Receiving clerk
  • Payables clerk
  • Payables manager
  • Treasurer
  • Shipping department

Payables manager
– Oversees the Posting of vouchers to appropriate purchase records (recording).

• Treasurer
– Signs and mails check for payment (custody).

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80
Q

Spending Cycle

In order to properly segregate the incompatible functions of authorization, recording, and custody, the activities may include specific employees with each of the following duties:

  • Purchasing manager
  • Purchasing clerk
  • Receiving clerk
  • Payables clerk
  • Payables manager
  • Treasurer
  • Shipping department

• Treasurer
– Signs and mails check for payment (custody).

A

Spending Cycle

In order to properly segregate the incompatible functions of authorization, recording, and custody, the activities may include specific employees with each of the following duties:

  • Purchasing manager
  • Purchasing clerk
  • Receiving clerk
  • Payables clerk
  • Payables manager
  • Treasurer
  • Shipping department

• Treasurer
– Signs and mails check for payment (custody).

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81
Q

Spending Cycle

• Treasurer
– S___s and mails check for payment (custody).

A

Spending Cycle

• Treasurer
– Signs and mails check for payment (custody).

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82
Q

Spending Cycle

• Treasurer
– Signs and m___s check for payment (custody).

A

Spending Cycle

• Treasurer
– Signs and mails check for payment (custody).

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83
Q

Spending Cycle

• Treasurer
– Signs and mails c___k for payment (custody).

A

Spending Cycle

• Treasurer
– Signs and mails check for payment (custody).

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84
Q

Spending Cycle

• Treasurer
– Signs and mails check for pa____nt (custody).

A

Spending Cycle

• Treasurer
– Signs and mails check for payment (custody).

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85
Q

Spending Cycle

• Treasurer
– Signs and mails check for payment (c_____y).

A

Spending Cycle

• Treasurer
– Signs and mails check for payment (custody).

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86
Q

Spending Cycle

• Tre_____
– Signs and mails check for payment (custody).

A

Spending Cycle

• Treasurer
– Signs and mails check for payment (custody).

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87
Q

Spending Cycle

In order to properly segregate the incompatible functions of authorization, recording, and custody, the activities may include specific employees with each of the following duties:

  • Purchasing manager
  • Purchasing clerk
  • Receiving clerk
  • Payables clerk
  • Payables manager
  • Treasurer
  • Shipping department

• Treasurer
– Signs and mails check for payment (custody).

• Shipping department
– Sends goods back to vendors when goods are nonconforming or a right to cancel an order is being exercised by the company (custody).

A

Spending Cycle

In order to properly segregate the incompatible functions of authorization, recording, and custody, the activities may include specific employees with each of the following duties:

  • Purchasing manager
  • Purchasing clerk
  • Receiving clerk
  • Payables clerk
  • Payables manager
  • Treasurer
  • Shipping department

• Treasurer
– Signs and mails check for payment (custody).

• Shipping department
– Sends goods back to vendors when goods are nonconforming or a right to cancel an order is being exercised by the company (custody).

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88
Q

Spending Cycle

In order to properly segregate the incompatible functions of authorization, recording, and custody, the activities may include specific employees with each of the following duties:

  • Purchasing manager
  • Purchasing clerk
  • Receiving clerk
  • Payables clerk
  • Payables manager
  • Treasurer
  • Shipping department

• Shipping department
– Sends goods back to vendors when goods are nonconforming or a right to cancel an order is being exercised by the company (custody).

A

Spending Cycle

In order to properly segregate the incompatible functions of authorization, recording, and custody, the activities may include specific employees with each of the following duties:

  • Purchasing manager
  • Purchasing clerk
  • Receiving clerk
  • Payables clerk
  • Payables manager
  • Treasurer
  • Shipping department

• Shipping department
– Sends goods back to vendors when goods are nonconforming or a right to cancel an order is being exercised by the company (custody).

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89
Q

Spending Cycle

• Shipping department

– S___s goods back to vendors when goods are nonconforming

A

Spending Cycle

• Shipping department

– Sends goods back to vendors when goods are nonconforming

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90
Q

Spending Cycle

• Shipping department

– Sends g__ds back to vendors when goods are nonconforming

A

Spending Cycle

• Shipping department

– Sends goods back to vendors when goods are nonconforming

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91
Q

Spending Cycle

• Shipping department

– Sends goods b__k to vendors when goods are nonconforming

A

Spending Cycle

• Shipping department

– Sends goods back to vendors when goods are nonconforming

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92
Q

Spending Cycle

• Shipping department

– Sends goods back to vendors when goods are non_______ming or a right to cancel

A

Spending Cycle

• Shipping department

– Sends goods back to vendors when goods are nonconforming or a right to cancel

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93
Q

Spending Cycle

• Shipping department

– Sends goods back to vendors when goods are nonconforming or a right to ca____l an order is being exercised by the company (custody).

A

Spending Cycle

• Shipping department

– Sends goods back to vendors when goods are nonconforming or a right to cancel an order is being exercised by the company (custody).

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94
Q

Spending Cycle

• Shipping department

– Sends goods back to vendors when goods are nonconforming or a ri___t to cancel an order is being exercised by the company (custody).

A

Spending Cycle

• Shipping department

– Sends goods back to vendors when goods are nonconforming or a right to cancel an order is being exercised by the company (custody).

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95
Q

Spending Cycle

• Shipping department

– Sends goods back to vendors when goods are nonconforming or a right to cancel an order is being exercised by the company (c_____dy).

A

Spending Cycle

• Shipping department

– Sends goods back to vendors when goods are nonconforming or a right to cancel an order is being exercised by the company (custody).

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96
Q

Spending Cycle

• S_____ing department

– Sends goods back to vendors when goods are nonconforming or a right to cancel an order is being exercised by the company (custody).

A

Spending Cycle

• Shipping department

– Sends goods back to vendors when goods are nonconforming or a right to cancel an order is being exercised by the company (custody).

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97
Q

Spending Cycle

• Shipping d__________

– Sends goods back to vendors when goods are nonconforming or a right to cancel an order is being exercised by the company (custody).

A

Spending Cycle

• Shipping department

– Sends goods back to vendors when goods are nonconforming or a right to cancel an order is being exercised by the company (custody).

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98
Q

Spending Cycle
(Purchases / Accounts Payable / Cash Disbursements)

The spending cycle of a business consists of ordering goods or services, receiving or using them, and paying for them.

In order to properly segregate the incompatible functions of authorization, recording, and custody, the activities may include specific employees with each of the following duties:

• Purchasing manager
– Approves purchase requests before they are processed and negotiates terms with vendors (authorization).

• Purchasing clerk
– Places orders with vendors (recording).

• Receiving clerk
– Receives delivery of goods from vendors (custody).

• Payables clerk
– Prepares payment voucher which is the basis for authorizing the issuance of a check to the vendor after verifying the accuracy of the vendor invoice and comparing supporting documents (recording).

• Payables manager
– Oversees the Posting of vouchers to appropriate purchase records (recording).

• Treasurer
– Signs and mails check for payment (custody).

• Shipping department
– Sends goods back to vendors when goods are nonconforming or a right to cancel an order is being exercised by the company (custody).

A

Spending Cycle
(Purchases / Accounts Payable / Cash Disbursements)

The spending cycle of a business consists of ordering goods or services, receiving or using them, and paying for them.

In order to properly segregate the incompatible functions of authorization, recording, and custody, the activities may include specific employees with each of the following duties:

• Purchasing manager
– Approves purchase requests before they are processed and negotiates terms with vendors (authorization).

• Purchasing clerk
– Places orders with vendors (recording).

• Receiving clerk
– Receives delivery of goods from vendors (custody).

• Payables clerk
– Prepares payment voucher which is the basis for authorizing the issuance of a check to the vendor after verifying the accuracy of the vendor invoice and comparing supporting documents (recording).

• Payables manager
– Oversees the Posting of vouchers to appropriate purchase records (recording).

• Treasurer
– Signs and mails check for payment (custody).

• Shipping department
– Sends goods back to vendors when goods are nonconforming or a right to cancel an order is being exercised by the company (custody).

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99
Q

Spending Cycle
(Purchases / Accounts Payable / Cash Disbursements)

The documents most often discussed on the exam include:

• Purchase requisition
– The internal request by the department in need for goods to be ordered by the purchasing department.

• Purchase order
– The external form mailed to the vendor to request that goods be delivered to the company.

• Receiving report
– The document prepared in the receiving department and signed by the carrier to acknowledge the goods that have been delivered to the company.

• Purchase (vendor) invoice
– The document received from the vendor indicating the goods the vendor claims to have shipped. This is the same document that is known as the sales invoice when considered from the vendor’s side of the transaction.

• Invoice register
– A book listing invoices received from vendors.

• Payment voucher
– The document prepared by the payables clerk to request that a check be issued for payment to a vendor.

• Purchase journal (or voucher register)
– A book listing all of the payment vouchers generated by the company.

A

Spending Cycle
(Purchases / Accounts Payable / Cash Disbursements)

The documents most often discussed on the exam include:

• Purchase requisition
– The internal request by the department in need for goods to be ordered by the purchasing department.

• Purchase order
– The external form mailed to the vendor to request that goods be delivered to the company.

• Receiving report
– The document prepared in the receiving department and signed by the carrier to acknowledge the goods that have been delivered to the company.

• Purchase (vendor) invoice
– The document received from the vendor indicating the goods the vendor claims to have shipped. This is the same document that is known as the sales invoice when considered from the vendor’s side of the transaction.

• Invoice register
– A book listing invoices received from vendors.

• Payment voucher
– The document prepared by the payables clerk to request that a check be issued for payment to a vendor.

• Purchase journal (or voucher register)
– A book listing all of the payment vouchers generated by the company.

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100
Q

Spending Cycle
(Purchases / Accounts Payable / Cash Disbursements)

The documents most often discussed on the exam include:

  • Purchase requisition
  • Purchase order
  • Receiving report
  • Purchase (vendor) invoice
  • Invoice register
  • Payment voucher
  • Purchase journal (or voucher register)
A

Spending Cycle
(Purchases / Accounts Payable / Cash Disbursements)

The documents most often discussed on the exam include:

  • Purchase requisition
  • Purchase order
  • Receiving report
  • Purchase (vendor) invoice
  • Invoice register
  • Payment voucher
  • Purchase journal (or voucher register)
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101
Q

Spending Cycle
(Purchases / Accounts Payable / Cash Disbursements)

The documents most often discussed on the exam include:

  • Purchase re_________
  • Purchase order
  • Receiving report
  • Purchase (vendor) invoice
  • Invoice register
  • Payment voucher
  • Purchase journal (or voucher register)
A

Spending Cycle
(Purchases / Accounts Payable / Cash Disbursements)

The documents most often discussed on the exam include:

  • Purchase requisition
  • Purchase order
  • Receiving report
  • Purchase (vendor) invoice
  • Invoice register
  • Payment voucher
  • Purchase journal (or voucher register)
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102
Q

Spending Cycle
(Purchases / Accounts Payable / Cash Disbursements)

The documents most often discussed on the exam include:

  • Purchase requisition
  • Purchase or___
  • Receiving report
  • Purchase (vendor) invoice
  • Invoice register
  • Payment voucher
  • Purchase journal (or voucher register)
A

Spending Cycle
(Purchases / Accounts Payable / Cash Disbursements)

The documents most often discussed on the exam include:

  • Purchase requisition
  • Purchase order
  • Receiving report
  • Purchase (vendor) invoice
  • Invoice register
  • Payment voucher
  • Purchase journal (or voucher register)
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103
Q

Spending Cycle
(Purchases / Accounts Payable / Cash Disbursements)

The documents most often discussed on the exam include:

  • Purchase requisition
  • Purchase order
  • Receiving re____
  • Purchase (vendor) invoice
  • Invoice register
  • Payment voucher
  • Purchase journal (or voucher register)
A

Spending Cycle
(Purchases / Accounts Payable / Cash Disbursements)

The documents most often discussed on the exam include:

  • Purchase requisition
  • Purchase order
  • Receiving report
  • Purchase (vendor) invoice
  • Invoice register
  • Payment voucher
  • Purchase journal (or voucher register)
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104
Q

Spending Cycle
(Purchases / Accounts Payable / Cash Disbursements)

The documents most often discussed on the exam include:

  • Purchase requisition
  • Purchase order
  • Receiving report
  • Purchase (vendor) inv____
  • Invoice register
  • Payment voucher
  • Purchase journal (or voucher register)
A

Spending Cycle
(Purchases / Accounts Payable / Cash Disbursements)

The documents most often discussed on the exam include:

  • Purchase requisition
  • Purchase order
  • Receiving report
  • Purchase (vendor) invoice
  • Invoice register
  • Payment voucher
  • Purchase journal (or voucher register)
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105
Q

Spending Cycle
(Purchases / Accounts Payable / Cash Disbursements)

The documents most often discussed on the exam include:

  • Purchase requisition
  • Purchase order
  • Receiving report
  • Purchase (vendor) invoice
  • Invoice re______
  • Payment voucher
  • Purchase journal (or voucher register)
A

Spending Cycle
(Purchases / Accounts Payable / Cash Disbursements)

The documents most often discussed on the exam include:

  • Purchase requisition
  • Purchase order
  • Receiving report
  • Purchase (vendor) invoice
  • Invoice register
  • Payment voucher
  • Purchase journal (or voucher register)
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106
Q

Spending Cycle
(Purchases / Accounts Payable / Cash Disbursements)

The documents most often discussed on the exam include:

  • Purchase requisition
  • Purchase order
  • Receiving report
  • Purchase (vendor) invoice
  • Invoice register
  • Payment vo_____
  • Purchase journal (or voucher register)
A

Spending Cycle
(Purchases / Accounts Payable / Cash Disbursements)

The documents most often discussed on the exam include:

  • Purchase requisition
  • Purchase order
  • Receiving report
  • Purchase (vendor) invoice
  • Invoice register
  • Payment voucher
  • Purchase journal (or voucher register)
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107
Q

Spending Cycle
(Purchases / Accounts Payable / Cash Disbursements)

The documents most often discussed on the exam include:

  • Purchase requisition
  • Purchase order
  • Receiving report
  • Purchase (vendor) invoice
  • Invoice register
  • Payment voucher
  • Purchase jo_____l (or voucher register)
A

Spending Cycle
(Purchases / Accounts Payable / Cash Disbursements)

The documents most often discussed on the exam include:

  • Purchase requisition
  • Purchase order
  • Receiving report
  • Purchase (vendor) invoice
  • Invoice register
  • Payment voucher
  • Purchase journal (or voucher register)
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108
Q

Spending Cycle

The documents most often discussed on the exam include:

  • Pur______ requisition
  • Purchase order
  • Receiving report
  • Purchase (vendor) invoice
  • Invoice register
  • Payment voucher
  • Purchase journal (or voucher register)
A

Spending Cycle

The documents most often discussed on the exam include:

  • Purchase requisition
  • Purchase order
  • Receiving report
  • Purchase (vendor) invoice
  • Invoice register
  • Payment voucher
  • Purchase journal (or voucher register)
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109
Q

Spending Cycle

The documents most often discussed on the exam include:

  • Purchase requisition
  • Pur______ order
  • Receiving report
  • Purchase (vendor) invoice
  • Invoice register
  • Payment voucher
  • Purchase journal (or voucher register)
A

Spending Cycle

The documents most often discussed on the exam include:

  • Purchase requisition
  • Purchase order
  • Receiving report
  • Purchase (vendor) invoice
  • Invoice register
  • Payment voucher
  • Purchase journal (or voucher register)
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110
Q

Spending Cycle

The documents most often discussed on the exam include:

  • Purchase requisition
  • Purchase order
  • Re____ving report
  • Purchase (vendor) invoice
  • Invoice register
  • Payment voucher
  • Purchase journal (or voucher register)
A

Spending Cycle

The documents most often discussed on the exam include:

  • Purchase requisition
  • Purchase order
  • Receiving report
  • Purchase (vendor) invoice
  • Invoice register
  • Payment voucher
  • Purchase journal (or voucher register)
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111
Q

Spending Cycle

The documents most often discussed on the exam include:

  • Purchase requisition
  • Purchase order
  • Receiving report
  • Pu_____se (vendor) invoice
  • Invoice register
  • Payment voucher
  • Purchase journal (or voucher register)
A

Spending Cycle

The documents most often discussed on the exam include:

  • Purchase requisition
  • Purchase order
  • Receiving report
  • Purchase (vendor) invoice
  • Invoice register
  • Payment voucher
  • Purchase journal (or voucher register)
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112
Q

Spending Cycle

The documents most often discussed on the exam include:

  • Purchase requisition
  • Purchase order
  • Receiving report
  • Purchase (vendor) invoice
  • In______ register
  • Payment voucher
  • Purchase journal (or voucher register)
A

Spending Cycle

The documents most often discussed on the exam include:

  • Purchase requisition
  • Purchase order
  • Receiving report
  • Purchase (vendor) invoice
  • Invoice register
  • Payment voucher
  • Purchase journal (or voucher register)
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113
Q

Spending Cycle

The documents most often discussed on the exam include:

  • Purchase requisition
  • Purchase order
  • Receiving report
  • Purchase (vendor) invoice
  • Invoice register
  • Pay____ voucher
  • Purchase journal (or voucher register)
A

Spending Cycle

The documents most often discussed on the exam include:

  • Purchase requisition
  • Purchase order
  • Receiving report
  • Purchase (vendor) invoice
  • Invoice register
  • Payment voucher
  • Purchase journal (or voucher register)
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114
Q

Spending Cycle

The documents most often discussed on the exam include:

  • Purchase requisition
  • Purchase order
  • Receiving report
  • Purchase (vendor) invoice
  • Invoice register
  • Payment voucher
  • Pur______ journal (or voucher register)
A

Spending Cycle

The documents most often discussed on the exam include:

  • Purchase requisition
  • Purchase order
  • Receiving report
  • Purchase (vendor) invoice
  • Invoice register
  • Payment voucher
  • Purchase journal (or voucher register)
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115
Q

Spending Cycle

The documents most often discussed on the exam include:

  • Purchase requisition
  • Purchase order
  • Receiving report
  • Purchase (vendor) invoice
  • Invoice register
  • Payment voucher
  • Purchase journal (or vou____r register)
A

Spending Cycle

The documents most often discussed on the exam include:

  • Purchase requisition
  • Purchase order
  • Receiving report
  • Purchase (vendor) invoice
  • Invoice register
  • Payment voucher
  • Purchase journal (or voucher register)
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116
Q

Spending Cycle

The documents most often discussed on the exam include:

  • Purchase requisition
  • Purchase order
  • Receiving report
  • Purchase (vendor) invoice
  • Invoice register
  • Payment voucher
  • Purchase journal (or voucher re_____r)
A

Spending Cycle

The documents most often discussed on the exam include:

  • Purchase requisition
  • Purchase order
  • Receiving report
  • Purchase (vendor) invoice
  • Invoice register
  • Payment voucher
  • Purchase journal (or voucher register)
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117
Q

Spending Cycle

The documents most often discussed include:

  • Purchase requisition
  • Purchase order
  • Receiving report
  • Purchase (vendor) invoice
  • Invoice register
  • Payment voucher
  • Purchase journal (or voucher register)

• Purchase requisition
– The internal request by the department in need for goods to be ordered by the purchasing department.

A

Spending Cycle

The documents most often discussed include:

  • Purchase requisition
  • Purchase order
  • Receiving report
  • Purchase (vendor) invoice
  • Invoice register
  • Payment voucher
  • Purchase journal (or voucher register)

• Purchase requisition
– The internal request by the department in need for goods to be ordered by the purchasing department.

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118
Q

Spending Cycle

• Purchase requisition

– The internal request by the department in need for goods to be or___ed by the purchasing department.

A

Spending Cycle

• Purchase requisition

– The internal request by the department in need for goods to be ordered by the purchasing department.

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119
Q

Spending Cycle

• Purchase requisition

– The inte____ request by the department in need for goods to be ordered by the purchasing department.

A

Spending Cycle

• Purchase requisition

– The internal request by the department in need for goods to be ordered by the purchasing department.

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120
Q

Spending Cycle

• Purchase requisition

– The internal req____ by the department in need for goods to be ordered by the purchasing department.

A

Spending Cycle

• Purchase requisition

– The internal request by the department in need for goods to be ordered by the purchasing department.

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121
Q

Spending Cycle

• Purchase requisition

– The internal request by the department in need for goods to be ordered by the pu_______ing department.

A

Spending Cycle

• Purchase requisition

– The internal request by the department in need for goods to be ordered by the purchasing department.

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122
Q

Spending Cycle

• Purchase requisition

– The internal request by the department in n__d for goods to be ordered by the purchasing department.

A

Spending Cycle

• Purchase requisition

– The internal request by the department in need for goods to be ordered by the purchasing department.

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123
Q

Spending Cycle

• Purc____ requisition

– The internal request by the department in need for goods to be ordered by the purchasing department.

A

Spending Cycle

• Purchase requisition

– The internal request by the department in need for goods to be ordered by the purchasing department.

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124
Q

Spending Cycle

• Purchase req________

– The internal request by the department in need for goods to be ordered by the purchasing department.

A

Spending Cycle

• Purchase requisition

– The internal request by the department in need for goods to be ordered by the purchasing department.

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125
Q

Spending Cycle

The documents most often discussed include:

  • Purchase requisition
  • Purchase order
  • Receiving report
  • Purchase (vendor) invoice
  • Invoice register
  • Payment voucher
  • Purchase journal (or voucher register)

• Purchase requisition
– The internal request by the department in need for goods to be ordered by the purchasing department.

• Purchase order
– The external form mailed to the vendor to request that goods be delivered to the company.

A

Spending Cycle

The documents most often discussed include:

  • Purchase requisition
  • Purchase order
  • Receiving report
  • Purchase (vendor) invoice
  • Invoice register
  • Payment voucher
  • Purchase journal (or voucher register)

• Purchase requisition
– The internal request by the department in need for goods to be ordered by the purchasing department.

• Purchase order
– The external form mailed to the vendor to request that goods be delivered to the company.

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126
Q

Spending Cycle

The documents most often discussed include:

  • Purchase requisition
  • Purchase order
  • Receiving report
  • Purchase (vendor) invoice
  • Invoice register
  • Payment voucher
  • Purchase journal (or voucher register)

• Purchase order
– The external form mailed to the vendor to request that goods be delivered to the company.

A

Spending Cycle

The documents most often discussed include:

  • Purchase requisition
  • Purchase order
  • Receiving report
  • Purchase (vendor) invoice
  • Invoice register
  • Payment voucher
  • Purchase journal (or voucher register)

• Purchase order
– The external form mailed to the vendor to request that goods be delivered to the company.

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127
Q

Spending Cycle

• Purchase order

– The external f___ mailed to the vendor to request that goods be delivered to the company.

A

Spending Cycle

• Purchase order

– The external form mailed to the vendor to request that goods be delivered to the company.

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128
Q

Spending Cycle

• Purchase order

– The ext_____ form mailed to the vendor to request that goods be delivered to the company.

A

Spending Cycle

• Purchase order

– The external form mailed to the vendor to request that goods be delivered to the company.

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129
Q

Spending Cycle

• Purchase order

– The external form mailed to the ven___ to request that goods be delivered to the company.

A

Spending Cycle

• Purchase order

– The external form mailed to the vendor to request that goods be delivered to the company.

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130
Q

Spending Cycle

• Purchase order

– The external form mailed to the vendor to req____ that goods be delivered to the company.

A

Spending Cycle

• Purchase order

– The external form mailed to the vendor to request that goods be delivered to the company.

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131
Q

Spending Cycle

• Purchase order

– The external form mailed to the vendor to request that goods be de_____ed to the company.

A

Spending Cycle

• Purchase order

– The external form mailed to the vendor to request that goods be delivered to the company.

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132
Q

Spending Cycle

• Pur_____ order

– The external form mailed to the vendor to request that goods be delivered to the company.

A

Spending Cycle

• Purchase order

– The external form mailed to the vendor to request that goods be delivered to the company.

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133
Q

Spending Cycle

• Purchase or___

– The external form mailed to the vendor to request that goods be delivered to the company.

A

Spending Cycle

• Purchase order

– The external form mailed to the vendor to request that goods be delivered to the company.

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134
Q

Spending Cycle

The documents most often discussed include:

  • Purchase requisition
  • Purchase order
  • Receiving report
  • Purchase (vendor) invoice
  • Invoice register
  • Payment voucher
  • Purchase journal (or voucher register)

• Purchase order

– The external form mailed to the vendor to request that goods be delivered to the company.

• Receiving report
– The document prepared in the receiving department and signed by the carrier to acknowledge the goods that have been delivered to the company.

A

Spending Cycle

The documents most often discussed include:

  • Purchase requisition
  • Purchase order
  • Receiving report
  • Purchase (vendor) invoice
  • Invoice register
  • Payment voucher
  • Purchase journal (or voucher register)

• Purchase order

– The external form mailed to the vendor to request that goods be delivered to the company.

• Receiving report
– The document prepared in the receiving department and signed by the carrier to acknowledge the goods that have been delivered to the company.

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135
Q

Spending Cycle

The documents most often discussed include:

  • Purchase requisition
  • Purchase order
  • Receiving report
  • Purchase (vendor) invoice
  • Invoice register
  • Payment voucher
  • Purchase journal (or voucher register)

• Receiving report
– The document prepared in the receiving department and signed by the carrier to acknowledge the goods that have been delivered to the company.

A

Spending Cycle

The documents most often discussed include:

  • Purchase requisition
  • Purchase order
  • Receiving report
  • Purchase (vendor) invoice
  • Invoice register
  • Payment voucher
  • Purchase journal (or voucher register)

• Receiving report
– The document prepared in the receiving department and signed by the carrier to acknowledge the goods that have been delivered to the company.

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136
Q

Spending Cycle

• Receiving report

– The docu_____ prepared in the receiving department and signed by the carrier

A

Spending Cycle

• Receiving report

– The document prepared in the receiving department and signed by the carrier

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137
Q

Spending Cycle

• Receiving report

– The document pr______ed in the receiving department and signed by the carrier

A

Spending Cycle

• Receiving report

– The document prepared in the receiving department and signed by the carrier

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138
Q

Spending Cycle

• Receiving report

– The document prepared in the re____ing department and signed by the carrier

A

Spending Cycle

• Receiving report

– The document prepared in the receiving department and signed by the carrier

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139
Q

Spending Cycle

• Receiving report

– The document prepared in the receiving department and s___ed by the carrier

A

Spending Cycle

• Receiving report

– The document prepared in the receiving department and signed by the carrier

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140
Q

Spending Cycle

• Receiving report

– The document prepared in the receiving department and signed by the c___ier

A

Spending Cycle

• Receiving report

– The document prepared in the receiving department and signed by the carrier

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141
Q

Spending Cycle

• Receiving report

– The document prepared in the receiving department and signed by the carrier

to ackno_______ the goods that have been delivered to the company.

A

Spending Cycle

• Receiving report

– The document prepared in the receiving department and signed by the carrier

to acknowledge the goods that have been delivered to the company.

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142
Q

Spending Cycle

• Receiving report

– The document prepared in the receiving department and signed by the carrier

to acknowledge the goods that have been de______ed to the company.

A

Spending Cycle

• Receiving report

– The document prepared in the receiving department and signed by the carrier

to acknowledge the goods that have been delivered to the company.

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143
Q

Spending Cycle

• Re____ing report

– The document prepared in the receiving department and signed by the carrier

to acknowledge the goods that have been delivered to the company.

A

Spending Cycle

• Receiving report

– The document prepared in the receiving department and signed by the carrier

to acknowledge the goods that have been delivered to the company.

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144
Q

Spending Cycle

• Receiving re___t

– The document prepared in the receiving department and signed by the carrier

to acknowledge the goods that have been delivered to the company.

A

Spending Cycle

• Receiving report

– The document prepared in the receiving department and signed by the carrier

to acknowledge the goods that have been delivered to the company.

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145
Q

Spending Cycle

The documents most often discussed include:

  • Purchase requisition
  • Purchase order
  • Receiving report
  • Purchase (vendor) invoice
  • Invoice register
  • Payment voucher
  • Purchase journal (or voucher register)

• Receiving report
– The document prepared in the receiving department and signed by the carrier to acknowledge the goods that have been delivered to the company.

• Purchase (vendor) invoice
– The document received from the vendor indicating the goods the vendor claims to have shipped. This is the same document that is known as the sales invoice when considered from the vendor’s side of the transaction.

A

Spending Cycle

The documents most often discussed include:

  • Purchase requisition
  • Purchase order
  • Receiving report
  • Purchase (vendor) invoice
  • Invoice register
  • Payment voucher
  • Purchase journal (or voucher register)

• Receiving report
– The document prepared in the receiving department and signed by the carrier to acknowledge the goods that have been delivered to the company.

• Purchase (vendor) invoice
– The document received from the vendor indicating the goods the vendor claims to have shipped. This is the same document that is known as the sales invoice when considered from the vendor’s side of the transaction.

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146
Q

Spending Cycle

The documents most often discussed include:

  • Purchase requisition
  • Purchase order
  • Receiving report
  • Purchase (vendor) invoice
  • Invoice register
  • Payment voucher
  • Purchase journal (or voucher register)

• Purchase (vendor) invoice

– The document received from the vendor indicating the goods the vendor claims to have shipped.

This is the same document that is known as the sales invoice when considered from the vendor’s side of the transaction.

A

Spending Cycle

The documents most often discussed include:

  • Purchase requisition
  • Purchase order
  • Receiving report
  • Purchase (vendor) invoice
  • Invoice register
  • Payment voucher
  • Purchase journal (or voucher register)

• Purchase (vendor) invoice

– The document received from the vendor indicating the goods the vendor claims to have shipped.

This is the same document that is known as the sales invoice when considered from the vendor’s side of the transaction.

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147
Q

Spending Cycle

• Purchase (vendor) invoice

– The do______t received from the vendor indicating the goods the vendor claims to have shipped.

A

Spending Cycle

• Purchase (vendor) invoice

– The document received from the vendor indicating the goods the vendor claims to have shipped.

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148
Q

Spending Cycle

• Purchase (vendor) invoice

– The document re______d from the vendor indicating the goods the vendor claims to have shipped.

A

Spending Cycle

• Purchase (vendor) invoice

– The document received from the vendor indicating the goods the vendor claims to have shipped.

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149
Q

Spending Cycle

• Purchase (vendor) invoice

– The document received from the ve__or indicating the goods the vendor claims to have shipped.

A

Spending Cycle

• Purchase (vendor) invoice

– The document received from the vendor indicating the goods the vendor claims to have shipped.

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150
Q

Spending Cycle

• Purchase (vendor) invoice

– The document received from the vendor indicating the goods the vendor claims to have sh___ed.

A

Spending Cycle

• Purchase (vendor) invoice

– The document received from the vendor indicating the goods the vendor claims to have shipped.

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151
Q

Spending Cycle

• Purchase (vendor) invoice

– The document received from the vendor indicating the goods the vendor claims to have shipped.

This is the sa__ document that is known as the sales invoice

A

Spending Cycle

• Purchase (vendor) invoice

– The document received from the vendor indicating the goods the vendor claims to have shipped.

This is the same document that is known as the sales invoice

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152
Q

Spending Cycle

• Purchase (vendor) invoice

– The document received from the vendor indicating the goods the vendor claims to have shipped.

This is the same document that is known as the sales inv____ when considered from the vendor’s side of the transaction.

A

Spending Cycle

• Purchase (vendor) invoice

– The document received from the vendor indicating the goods the vendor claims to have shipped.

This is the same document that is known as the sales invoice when considered from the vendor’s side of the transaction.

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153
Q

Spending Cycle

• Purchase (vendor) invoice

– The document received from the vendor indicating the goods the vendor claims to have shipped.

This is the same document that is known as the sales invoice when considered from the ve__or’s side of the transaction.

A

Spending Cycle

• Purchase (vendor) invoice

– The document received from the vendor indicating the goods the vendor claims to have shipped.

This is the same document that is known as the sales invoice when considered from the vendor’s side of the transaction.

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154
Q

Spending Cycle

• Purchase (vendor) invoice

– The document received from the vendor indicating the goods the vendor claims to have shipped.

This is the same document that is known as the sales invoice when considered from the vendor’s side of the tran_______.

A

Spending Cycle

• Purchase (vendor) invoice

– The document received from the vendor indicating the goods the vendor claims to have shipped.

This is the same document that is known as the sales invoice when considered from the vendor’s side of the transaction.

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155
Q

Spending Cycle

• Pur____e (vendor) invoice

– The document received from the vendor indicating the goods the vendor claims to have shipped.

This is the same document that is known as the sales invoice when considered from the vendor’s side of the transaction.

A

Spending Cycle

• Purchase (vendor) invoice

– The document received from the vendor indicating the goods the vendor claims to have shipped.

This is the same document that is known as the sales invoice when considered from the vendor’s side of the transaction.

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156
Q

Spending Cycle

• Purchase (ve____r) invoice

– The document received from the vendor indicating the goods the vendor claims to have shipped.

This is the same document that is known as the sales invoice when considered from the vendor’s side of the transaction.

A

Spending Cycle

• Purchase (vendor) invoice

– The document received from the vendor indicating the goods the vendor claims to have shipped.

This is the same document that is known as the sales invoice when considered from the vendor’s side of the transaction.

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157
Q

Spending Cycle

• Purchase (vendor) in______

– The document received from the vendor indicating the goods the vendor claims to have shipped.

This is the same document that is known as the sales invoice when considered from the vendor’s side of the transaction.

A

Spending Cycle

• Purchase (vendor) invoice

– The document received from the vendor indicating the goods the vendor claims to have shipped.

This is the same document that is known as the sales invoice when considered from the vendor’s side of the transaction.

158
Q

Spending Cycle

The documents most often discussed include:

  • Purchase requisition
  • Purchase order
  • Receiving report
  • Purchase (vendor) invoice
  • Invoice register
  • Payment voucher
  • Purchase journal (or voucher register)

• Purchase (vendor) invoice
– The document received from the vendor indicating the goods the vendor claims to have shipped. This is the same document that is known as the sales invoice when considered from the vendor’s side of the transaction.

• Invoice register
– A book listing invoices received from vendors.

A

Spending Cycle

The documents most often discussed include:

  • Purchase requisition
  • Purchase order
  • Receiving report
  • Purchase (vendor) invoice
  • Invoice register
  • Payment voucher
  • Purchase journal (or voucher register)

• Purchase (vendor) invoice
– The document received from the vendor indicating the goods the vendor claims to have shipped. This is the same document that is known as the sales invoice when considered from the vendor’s side of the transaction.

• Invoice register
– A book listing invoices received from vendors.

159
Q

Spending Cycle

The documents most often discussed include:

  • Purchase requisition
  • Purchase order
  • Receiving report
  • Purchase (vendor) invoice
  • Invoice register
  • Payment voucher
  • Purchase journal (or voucher register)

• Invoice register
– A book listing invoices received from vendors.

A

Spending Cycle

The documents most often discussed include:

  • Purchase requisition
  • Purchase order
  • Receiving report
  • Purchase (vendor) invoice
  • Invoice register
  • Payment voucher
  • Purchase journal (or voucher register)

• Invoice register
– A book listing invoices received from vendors.

160
Q

Spending Cycle

• Invoice register
– A b__k listing invoices received from vendors.

A

Spending Cycle

• Invoice register
– A book listing invoices received from vendors.

161
Q

Spending Cycle

• Invoice register
– A book listing in______s received from vendors.

A

Spending Cycle

• Invoice register
– A book listing invoices received from vendors.

162
Q

Spending Cycle

• Invoice register
– A book listing invoices received from ve___rs.

A

Spending Cycle

• Invoice register
– A book listing invoices received from vendors.

163
Q

Spending Cycle

• Invoice register
– A book listing invoices re___ved from vendors.

A

Spending Cycle

• Invoice register
– A book listing invoices received from vendors.

164
Q

Spending Cycle

• Inv_____ register
– A book listing invoices received from vendors.

A

Spending Cycle

• Invoice register
– A book listing invoices received from vendors.

165
Q

Spending Cycle

• Invoice reg_____
– A book listing invoices received from vendors.

A

Spending Cycle

• Invoice register
– A book listing invoices received from vendors.

166
Q

Spending Cycle

The documents most often discussed include:

  • Purchase requisition
  • Purchase order
  • Receiving report
  • Purchase (vendor) invoice
  • Invoice register
  • Payment voucher
  • Purchase journal (or voucher register)

• Invoice register
– A book listing invoices received from vendors.

• Payment voucher
– The document prepared by the payables clerk to request that a check be issued for payment to a vendor.

A

Spending Cycle

The documents most often discussed include:

  • Purchase requisition
  • Purchase order
  • Receiving report
  • Purchase (vendor) invoice
  • Invoice register
  • Payment voucher
  • Purchase journal (or voucher register)

• Invoice register
– A book listing invoices received from vendors.

• Payment voucher
– The document prepared by the payables clerk to request that a check be issued for payment to a vendor.

167
Q

Spending Cycle

The documents most often discussed include:

  • Purchase requisition
  • Purchase order
  • Receiving report
  • Purchase (vendor) invoice
  • Invoice register
  • Payment voucher
  • Purchase journal (or voucher register)

• Payment voucher
– The document prepared by the payables clerk to request that a check be issued for payment to a vendor.

A

Spending Cycle

The documents most often discussed include:

  • Purchase requisition
  • Purchase order
  • Receiving report
  • Purchase (vendor) invoice
  • Invoice register
  • Payment voucher
  • Purchase journal (or voucher register)

• Payment voucher
– The document prepared by the payables clerk to request that a check be issued for payment to a vendor.

168
Q

Spending Cycle

• Payment voucher
– The do_______ prepared by the payables clerk to request that a check be issued for payment to a vendor.

A

Spending Cycle

• Payment voucher
– The document prepared by the payables clerk to request that a check be issued for payment to a vendor.

169
Q

Spending Cycle

• Payment voucher
– The document prepared by the pa___les clerk to request that a check be issued for payment to a vendor.

A

Spending Cycle

• Payment voucher
– The document prepared by the payables clerk to request that a check be issued for payment to a vendor.

170
Q

Spending Cycle

• Payment voucher
– The document prepared by the payables c____ to request that a check be issued for payment to a vendor.

A

Spending Cycle

• Payment voucher
– The document prepared by the payables clerk to request that a check be issued for payment to a vendor.

171
Q

Spending Cycle

• Payment voucher
– The document prepared by the payables clerk to request that a c___k be issued for payment to a vendor.

A

Spending Cycle

• Payment voucher
– The document prepared by the payables clerk to request that a check be issued for payment to a vendor.

172
Q

Spending Cycle

• Payment voucher
– The document prepared by the payables clerk to request that a check be issued for payment to a v___or.

A

Spending Cycle

• Payment voucher
– The document prepared by the payables clerk to request that a check be issued for payment to a vendor.

173
Q

Spending Cycle

• Pay____ voucher
– The document prepared by the payables clerk to request that a check be issued for payment to a vendor.

A

Spending Cycle

• Payment voucher
– The document prepared by the payables clerk to request that a check be issued for payment to a vendor.

174
Q

Spending Cycle

• Payment vou_____
– The document prepared by the payables clerk to request that a check be issued for payment to a vendor.

A

Spending Cycle

• Payment voucher
– The document prepared by the payables clerk to request that a check be issued for payment to a vendor.

175
Q

Spending Cycle

The documents most often discussed include:

  • Purchase requisition
  • Purchase order
  • Receiving report
  • Purchase (vendor) invoice
  • Invoice register
  • Payment voucher
  • Purchase journal (or voucher register)

• Payment voucher
– The document prepared by the payables clerk to request that a check be issued for payment to a vendor.

• Purchase journal (or voucher register)
– A book listing all of the payment vouchers generated by the company.

A

Spending Cycle

The documents most often discussed include:

  • Purchase requisition
  • Purchase order
  • Receiving report
  • Purchase (vendor) invoice
  • Invoice register
  • Payment voucher
  • Purchase journal (or voucher register)

• Payment voucher
– The document prepared by the payables clerk to request that a check be issued for payment to a vendor.

• Purchase journal (or voucher register)
– A book listing all of the payment vouchers generated by the company.

176
Q

Spending Cycle

The documents most often discussed include:

  • Purchase requisition
  • Purchase order
  • Receiving report
  • Purchase (vendor) invoice
  • Invoice register
  • Payment voucher
  • Purchase journal (or voucher register)

• Purchase journal (or voucher register)
– A book listing all of the payment vouchers generated by the company.

A

Spending Cycle

The documents most often discussed include:

  • Purchase requisition
  • Purchase order
  • Receiving report
  • Purchase (vendor) invoice
  • Invoice register
  • Payment voucher
  • Purchase journal (or voucher register)

• Purchase journal (or voucher register)
– A book listing all of the payment vouchers generated by the company.

177
Q

Spending Cycle

• Purchase journal (or voucher register)
– A b__k listing all of the payment vouchers generated by the company.

A

Spending Cycle

• Purchase journal (or voucher register)
– A book listing all of the payment vouchers generated by the company.

178
Q

Spending Cycle

• Purchase journal (or voucher register)
– A book li__ing all of the payment vouchers generated by the company.

A

Spending Cycle

• Purchase journal (or voucher register)
– A book listing all of the payment vouchers generated by the company.

179
Q

Spending Cycle

• Purchase journal (or voucher register)
– A book listing a__ of the payment vouchers generated by the company.

A

Spending Cycle

• Purchase journal (or voucher register)
– A book listing all of the payment vouchers generated by the company.

180
Q

Spending Cycle

• Purchase journal (or voucher register)
– A book listing all of the payment vo______rs generated by the company.

A

Spending Cycle

• Purchase journal (or voucher register)
– A book listing all of the payment vouchers generated by the company.

181
Q

Spending Cycle

• Pur_______ journal (or voucher register)
– A book listing all of the payment vouchers generated by the company.

A

Spending Cycle

• Purchase journal (or voucher register)
– A book listing all of the payment vouchers generated by the company.

182
Q

Spending Cycle

• Purchase jo______ (or voucher register)
– A book listing all of the payment vouchers generated by the company.

A

Spending Cycle

• Purchase journal (or voucher register)
– A book listing all of the payment vouchers generated by the company.

183
Q

Spending Cycle

• Purchase journal (or vo_______ register)
– A book listing all of the payment vouchers generated by the company.

A

Spending Cycle

• Purchase journal (or voucher register)
– A book listing all of the payment vouchers generated by the company.

184
Q

Spending Cycle

• Purchase journal (or voucher re_______)
– A book listing all of the payment vouchers generated by the company.

A

Spending Cycle

• Purchase journal (or voucher register)
– A book listing all of the payment vouchers generated by the company.

185
Q

Spending Cycle
(Purchases / Accounts Payable / Cash Disbursements)

The documents most often discussed on the exam include:

• Purchase requisition
– The internal request by the department in need for goods to be ordered by the purchasing department.

• Purchase order
– The external form mailed to the vendor to request that goods be delivered to the company.

• Receiving report
– The document prepared in the receiving department and signed by the carrier to acknowledge the goods that have been delivered to the company.

• Purchase (vendor) invoice
– The document received from the vendor indicating the goods the vendor claims to have shipped. This is the same document that is known as the sales invoice when considered from the vendor’s side of the transaction.

• Invoice register
– A book listing invoices received from vendors.

• Payment voucher
– The document prepared by the payables clerk to request that a check be issued for payment to a vendor.

• Purchase journal (or voucher register)
– A book listing all of the payment vouchers generated by the company.

A

Spending Cycle
(Purchases / Accounts Payable / Cash Disbursements)

The documents most often discussed on the exam include:

• Purchase requisition
– The internal request by the department in need for goods to be ordered by the purchasing department.

• Purchase order
– The external form mailed to the vendor to request that goods be delivered to the company.

• Receiving report
– The document prepared in the receiving department and signed by the carrier to acknowledge the goods that have been delivered to the company.

• Purchase (vendor) invoice
– The document received from the vendor indicating the goods the vendor claims to have shipped. This is the same document that is known as the sales invoice when considered from the vendor’s side of the transaction.

• Invoice register
– A book listing invoices received from vendors.

• Payment voucher
– The document prepared by the payables clerk to request that a check be issued for payment to a vendor.

• Purchase journal (or voucher register)
– A book listing all of the payment vouchers generated by the company.

186
Q

Spending Cycle

The documents most often discussed on the exam include:

• Purchase requisition
– The internal request by the department in need for goods to be ordered by the purchasing department.

• Purchase order
– The external form mailed to the vendor to request that goods be delivered to the company.

• Receiving report
– The document prepared in the receiving department and signed by the carrier to acknowledge the goods that have been delivered to the company.

• Purchase (vendor) invoice
– The document received from the vendor indicating the goods the vendor claims to have shipped.

• Invoice register
– A book listing invoices received from vendors.

• Payment voucher
– The document prepared by the payables clerk to request that a check be issued for payment to a vendor.

• Purchase journal (or voucher register)
– A book listing all of the payment vouchers generated by the company.

A

Spending Cycle

The documents most often discussed on the exam include:

• Purchase requisition
– The internal request by the department in need for goods to be ordered by the purchasing department.

• Purchase order
– The external form mailed to the vendor to request that goods be delivered to the company.

• Receiving report
– The document prepared in the receiving department and signed by the carrier to acknowledge the goods that have been delivered to the company.

• Purchase (vendor) invoice
– The document received from the vendor indicating the goods the vendor claims to have shipped.

• Invoice register
– A book listing invoices received from vendors.

• Payment voucher
– The document prepared by the payables clerk to request that a check be issued for payment to a vendor.

• Purchase journal (or voucher register)
– A book listing all of the payment vouchers generated by the company.

187
Q

Spending Cycle
(Purchases / Accounts Payable / Cash Disbursements)

In order to properly segregate the incompatible functions of authorization, recording, and custody, the activities may include specific employees with each of the following duties:

  • Purchasing manager – (authorization)
  • Purchasing clerk – (recording)
  • Receiving clerk – (custody)
  • Payables clerk – (recording)
  • Payables manager – (recording)
  • Treasurer – (custody)
  • Shipping department – (custody)
A

Spending Cycle
(Purchases / Accounts Payable / Cash Disbursements)

In order to properly segregate the incompatible functions of authorization, recording, and custody, the activities may include specific employees with each of the following duties:

  • Purchasing manager – (authorization)
  • Purchasing clerk – (recording)
  • Receiving clerk – (custody)
  • Payables clerk – (recording)
  • Payables manager – (recording)
  • Treasurer – (custody)
  • Shipping department – (custody)
188
Q

Spending Cycle

  • Purchasing manager – (_________)
  • Purchasing clerk – (recording)
  • Receiving clerk – (custody)
  • Payables clerk – (recording)
  • Payables manager – (recording)
  • Treasurer – (custody)
  • Shipping department – (custody)
A

Spending Cycle

  • Purchasing manager – (authorization)
  • Purchasing clerk – (recording)
  • Receiving clerk – (custody)
  • Payables clerk – (recording)
  • Payables manager – (recording)
  • Treasurer – (custody)
  • Shipping department – (custody)
189
Q

Spending Cycle

  • Purchasing manager – (authorization)
  • Purchasing clerk – (_________)
  • Receiving clerk – (custody)
  • Payables clerk – (recording)
  • Payables manager – (recording)
  • Treasurer – (custody)
  • Shipping department – (custody)
A

Spending Cycle

  • Purchasing manager – (authorization)
  • Purchasing clerk – (recording)
  • Receiving clerk – (custody)
  • Payables clerk – (recording)
  • Payables manager – (recording)
  • Treasurer – (custody)
  • Shipping department – (custody)
190
Q

Spending Cycle

  • Purchasing manager – (authorization)
  • Purchasing clerk – (recording)
  • Receiving clerk – (_________)
  • Payables clerk – (recording)
  • Payables manager – (recording)
  • Treasurer – (custody)
  • Shipping department – (custody)
A

Spending Cycle

  • Purchasing manager – (authorization)
  • Purchasing clerk – (recording)
  • Receiving clerk – (custody)
  • Payables clerk – (recording)
  • Payables manager – (recording)
  • Treasurer – (custody)
  • Shipping department – (custody)
191
Q

Spending Cycle

  • Purchasing manager – (authorization)
  • Purchasing clerk – (recording)
  • Receiving clerk – (custody)
  • Payables clerk – (_________)
  • Payables manager – (recording)
  • Treasurer – (custody)
  • Shipping department – (custody)
A

Spending Cycle

  • Purchasing manager – (authorization)
  • Purchasing clerk – (recording)
  • Receiving clerk – (custody)
  • Payables clerk – (recording)
  • Payables manager – (recording)
  • Treasurer – (custody)
  • Shipping department – (custody)
192
Q

Spending Cycle

  • Purchasing manager – (authorization)
  • Purchasing clerk – (recording)
  • Receiving clerk – (custody)
  • Payables clerk – (recording)
  • Payables manager – (__________)
  • Treasurer – (custody)
  • Shipping department – (custody)
A

Spending Cycle

  • Purchasing manager – (authorization)
  • Purchasing clerk – (recording)
  • Receiving clerk – (custody)
  • Payables clerk – (recording)
  • Payables manager – (recording)
  • Treasurer – (custody)
  • Shipping department – (custody)
193
Q

Spending Cycle

  • Purchasing manager – (authorization)
  • Purchasing clerk – (recording)
  • Receiving clerk – (custody)
  • Payables clerk – (recording)
  • Payables manager – (recording)
  • Treasurer – (_______)
  • Shipping department – (custody)
A

Spending Cycle

  • Purchasing manager – (authorization)
  • Purchasing clerk – (recording)
  • Receiving clerk – (custody)
  • Payables clerk – (recording)
  • Payables manager – (recording)
  • Treasurer – (custody)
  • Shipping department – (custody)
194
Q

Spending Cycle

  • Purchasing manager – (authorization)
  • Purchasing clerk – (recording)
  • Receiving clerk – (custody)
  • Payables clerk – (recording)
  • Payables manager – (recording)
  • Treasurer – (custody)
  • Shipping department – (________)
A

Spending Cycle

  • Purchasing manager – (authorization)
  • Purchasing clerk – (recording)
  • Receiving clerk – (custody)
  • Payables clerk – (recording)
  • Payables manager – (recording)
  • Treasurer – (custody)
  • Shipping department – (custody)
195
Q

Spending Cycle

  • Purchasing m_________ – (authorization)
  • Purchasing clerk – (recording)
  • Receiving clerk – (custody)
  • Payables clerk – (recording)
  • Payables manager – (recording)
  • Treasurer – (custody)
  • Shipping department – (custody)
A

Spending Cycle

  • Purchasing manager – (authorization)
  • Purchasing clerk – (recording)
  • Receiving clerk – (custody)
  • Payables clerk – (recording)
  • Payables manager – (recording)
  • Treasurer – (custody)
  • Shipping department – (custody)
196
Q

Spending Cycle

  • Purchasing manager – (authorization)
  • Purchasing _____ – (recording)
  • Receiving clerk – (custody)
  • Payables clerk – (recording)
  • Payables manager – (recording)
  • Treasurer – (custody)
  • Shipping department – (custody)
A

Spending Cycle

  • Purchasing manager – (authorization)
  • Purchasing clerk – (recording)
  • Receiving clerk – (custody)
  • Payables clerk – (recording)
  • Payables manager – (recording)
  • Treasurer – (custody)
  • Shipping department – (custody)
197
Q

Spending Cycle

  • Purchasing manager – (authorization)
  • Purchasing clerk – (recording)
  • Receiving _____ – (custody)
  • Payables clerk – (recording)
  • Payables manager – (recording)
  • Treasurer – (custody)
  • Shipping department – (custody)
A

Spending Cycle

  • Purchasing manager – (authorization)
  • Purchasing clerk – (recording)
  • Receiving clerk – (custody)
  • Payables clerk – (recording)
  • Payables manager – (recording)
  • Treasurer – (custody)
  • Shipping department – (custody)
198
Q

Spending Cycle

  • Purchasing manager – (authorization)
  • Purchasing clerk – (recording)
  • Receiving clerk – (custody)
  • Payables _____ – (recording)
  • Payables manager – (recording)
  • Treasurer – (custody)
  • Shipping department – (custody)
A

Spending Cycle

  • Purchasing manager – (authorization)
  • Purchasing clerk – (recording)
  • Receiving clerk – (custody)
  • Payables clerk – (recording)
  • Payables manager – (recording)
  • Treasurer – (custody)
  • Shipping department – (custody)
199
Q

Spending Cycle

  • Purchasing manager – (authorization)
  • Purchasing clerk – (recording)
  • Receiving clerk – (custody)
  • Payables clerk – (recording)
  • Payables m_______ – (recording)
  • Treasurer – (custody)
  • Shipping department – (custody)
A

Spending Cycle

  • Purchasing manager – (authorization)
  • Purchasing clerk – (recording)
  • Receiving clerk – (custody)
  • Payables clerk – (recording)
  • Payables manager – (recording)
  • Treasurer – (custody)
  • Shipping department – (custody)
200
Q

Spending Cycle

  • Purchasing manager – (authorization)
  • Purchasing clerk – (recording)
  • Receiving clerk – (custody)
  • Payables clerk – (recording)
  • Payables manager – (recording)
  • T________ – (custody)
  • Shipping department – (custody)
A

Spending Cycle

  • Purchasing manager – (authorization)
  • Purchasing clerk – (recording)
  • Receiving clerk – (custody)
  • Payables clerk – (recording)
  • Payables manager – (recording)
  • Treasurer – (custody)
  • Shipping department – (custody)
201
Q

Spending Cycle

  • Purchasing manager – (authorization)
  • Purchasing clerk – (recording)
  • Receiving clerk – (custody)
  • Payables clerk – (recording)
  • Payables manager – (recording)
  • Treasurer – (custody)
  • Shipping d_________ – (custody)
A

Spending Cycle

  • Purchasing manager – (authorization)
  • Purchasing clerk – (recording)
  • Receiving clerk – (custody)
  • Payables clerk – (recording)
  • Payables manager – (recording)
  • Treasurer – (custody)
  • Shipping department – (custody)
202
Q

Spending Cycle

  • P________ manager – (authorization)
  • Purchasing clerk – (recording)
  • Receiving clerk – (custody)
  • Payables clerk – (recording)
  • Payables manager – (recording)
  • Treasurer – (custody)
  • Shipping department – (custody)
A

Spending Cycle

  • Purchasing manager – (authorization)
  • Purchasing clerk – (recording)
  • Receiving clerk – (custody)
  • Payables clerk – (recording)
  • Payables manager – (recording)
  • Treasurer – (custody)
  • Shipping department – (custody)
203
Q

Spending Cycle

  • Purchasing manager – (authorization)
  • P________ clerk – (recording)
  • Receiving clerk – (custody)
  • Payables clerk – (recording)
  • Payables manager – (recording)
  • Treasurer – (custody)
  • Shipping department – (custody)
A

Spending Cycle

  • Purchasing manager – (authorization)
  • Purchasing clerk – (recording)
  • Receiving clerk – (custody)
  • Payables clerk – (recording)
  • Payables manager – (recording)
  • Treasurer – (custody)
  • Shipping department – (custody)
204
Q

Spending Cycle

  • Purchasing manager – (authorization)
  • Purchasing clerk – (recording)
  • R_______ clerk – (custody)
  • Payables clerk – (recording)
  • Payables manager – (recording)
  • Treasurer – (custody)
  • Shipping department – (custody)
A

Spending Cycle

  • Purchasing manager – (authorization)
  • Purchasing clerk – (recording)
  • Receiving clerk – (custody)
  • Payables clerk – (recording)
  • Payables manager – (recording)
  • Treasurer – (custody)
  • Shipping department – (custody)
205
Q

Spending Cycle

  • Purchasing manager – (authorization)
  • Purchasing clerk – (recording)
  • Receiving clerk – (custody)
  • P________ clerk – (recording)
  • Payables manager – (recording)
  • Treasurer – (custody)
  • Shipping department – (custody)
A

Spending Cycle

  • Purchasing manager – (authorization)
  • Purchasing clerk – (recording)
  • Receiving clerk – (custody)
  • Payables clerk – (recording)
  • Payables manager – (recording)
  • Treasurer – (custody)
  • Shipping department – (custody)
206
Q

Spending Cycle

  • Purchasing manager – (authorization)
  • Purchasing clerk – (recording)
  • Receiving clerk – (custody)
  • Payables clerk – (recording)
  • P_______ manager – (recording)
  • Treasurer – (custody)
  • Shipping department – (custody)
A

Spending Cycle

  • Purchasing manager – (authorization)
  • Purchasing clerk – (recording)
  • Receiving clerk – (custody)
  • Payables clerk – (recording)
  • Payables manager – (recording)
  • Treasurer – (custody)
  • Shipping department – (custody)
207
Q

Spending Cycle

  • Purchasing manager – (authorization)
  • Purchasing clerk – (recording)
  • Receiving clerk – (custody)
  • Payables clerk – (recording)
  • Payables manager – (recording)
  • ________ – (custody)
  • Shipping department – (custody)
A

Spending Cycle

  • Purchasing manager – (authorization)
  • Purchasing clerk – (recording)
  • Receiving clerk – (custody)
  • Payables clerk – (recording)
  • Payables manager – (recording)
  • Treasurer – (custody)
  • Shipping department – (custody)
208
Q

Spending Cycle

  • Purchasing manager – (authorization)
  • Purchasing clerk – (recording)
  • Receiving clerk – (custody)
  • Payables clerk – (recording)
  • Payables manager – (recording)
  • Treasurer – (custody)
  • S_______ department – (custody)
A

Spending Cycle

  • Purchasing manager – (authorization)
  • Purchasing clerk – (recording)
  • Receiving clerk – (custody)
  • Payables clerk – (recording)
  • Payables manager – (recording)
  • Treasurer – (custody)
  • Shipping department – (custody)
209
Q

Spending Cycle

  • Purchasing clerk – (recording)
  • Payables clerk – (recording)
  • Payables manager – (recording)
  • Receiving clerk – (custody)
  • Treasurer – (custody)
  • Shipping department – (custody)

• Purchasing manager – (authorization)

A

Spending Cycle

  • Purchasing clerk – (recording)
  • Payables clerk – (recording)
  • Payables manager – (recording)
  • Receiving clerk – (custody)
  • Treasurer – (custody)
  • Shipping department – (custody)

• Purchasing manager – (authorization)

210
Q

Spending Cycle

  • P________ clerk – (recording)
  • Payables clerk – (recording)
  • Payables manager – (recording)
  • Receiving clerk – (custody)
  • Treasurer – (custody)
  • Shipping department – (custody)

• Purchasing manager – (authorization)

A

Spending Cycle

  • Purchasing clerk – (recording)
  • Payables clerk – (recording)
  • Payables manager – (recording)
  • Receiving clerk – (custody)
  • Treasurer – (custody)
  • Shipping department – (custody)

• Purchasing manager – (authorization)

211
Q

Spending Cycle

  • Purchasing clerk – (recording)
  • P______ clerk – (recording)
  • P______ manager – (recording)
  • Receiving clerk – (custody)
  • Treasurer – (custody)
  • Shipping department – (custody)

• Purchasing manager – (authorization)

A

Spending Cycle

  • Purchasing clerk – (recording)
  • Payables clerk – (recording)
  • Payables manager – (recording)
  • Receiving clerk – (custody)
  • Treasurer – (custody)
  • Shipping department – (custody)

• Purchasing manager – (authorization)

212
Q

Spending Cycle

  • Purchasing clerk – (recording)
  • Payables clerk – (recording)
  • Payables manager – (recording)
  • R_______ clerk – (custody)
  • Treasurer – (custody)
  • Shipping department – (custody)

• Purchasing manager – (authorization)

A

Spending Cycle

  • Purchasing clerk – (recording)
  • Payables clerk – (recording)
  • Payables manager – (recording)
  • Receiving clerk – (custody)
  • Treasurer – (custody)
  • Shipping department – (custody)

• Purchasing manager – (authorization)

213
Q

Spending Cycle

  • Purchasing clerk – (recording)
  • Payables clerk – (recording)
  • Payables manager – (recording)
  • Receiving clerk – (custody)
  • T________ – (custody)
  • Shipping department – (custody)

• Purchasing manager – (authorization)

A

Spending Cycle

  • Purchasing clerk – (recording)
  • Payables clerk – (recording)
  • Payables manager – (recording)
  • Receiving clerk – (custody)
  • Treasurer – (custody)
  • Shipping department – (custody)

• Purchasing manager – (authorization)

214
Q

Spending Cycle

  • Purchasing clerk – (recording)
  • Payables clerk – (recording)
  • Payables manager – (recording)
  • Receiving clerk – (custody)
  • Treasurer – (custody)
  • S________ department – (custody)

• Purchasing manager – (authorization)

A

Spending Cycle

  • Purchasing clerk – (recording)
  • Payables clerk – (recording)
  • Payables manager – (recording)
  • Receiving clerk – (custody)
  • Treasurer – (custody)
  • Shipping department – (custody)

• Purchasing manager – (authorization)

215
Q

Spending Cycle

  • Purchasing clerk – (recording)
  • Payables clerk – (recording)
  • Payables manager – (recording)
  • Receiving clerk – (custody)
  • Treasurer – (custody)
  • Shipping department – (custody)

• Purchasing m________ – (authorization)

A

Spending Cycle

  • Purchasing clerk – (recording)
  • Payables clerk – (recording)
  • Payables manager – (recording)
  • Receiving clerk – (custody)
  • Treasurer – (custody)
  • Shipping department – (custody)

• Purchasing manager – (authorization)

216
Q

Spending Cycle

  • Purchasing _____ – (recording)
  • Payables _____ – (recording)
  • Payables manager – (recording)
  • Receiving clerk – (custody)
  • Treasurer – (custody)
  • Shipping department – (custody)

• Purchasing manager – (authorization)

A

Spending Cycle

  • Purchasing clerk – (recording)
  • Payables clerk – (recording)
  • Payables manager – (recording)
  • Receiving clerk – (custody)
  • Treasurer – (custody)
  • Shipping department – (custody)

• Purchasing manager – (authorization)

217
Q

Spending Cycle

  • Purchasing clerk – (recording)
  • Payables clerk – (recording)
  • Payables manager – (recording)
  • Receiving _____ – (custody)
  • Treasurer – (custody)
  • Shipping department – (custody)

• Purchasing manager – (authorization)

A

Spending Cycle

  • Purchasing clerk – (recording)
  • Payables clerk – (recording)
  • Payables manager – (recording)
  • Receiving clerk – (custody)
  • Treasurer – (custody)
  • Shipping department – (custody)

• Purchasing manager – (authorization)

218
Q

Spending Cycle

  • Purchasing clerk – (recording)
  • Payables clerk – (recording)
  • Payables manager – (recording)
  • Receiving clerk – (custody)
  • Treasurer – (custody)
  • Shipping d_________ – (custody)

• Purchasing manager – (authorization)

A

Spending Cycle

  • Purchasing clerk – (recording)
  • Payables clerk – (recording)
  • Payables manager – (recording)
  • Receiving clerk – (custody)
  • Treasurer – (custody)
  • Shipping department – (custody)

• Purchasing manager – (authorization)

219
Q

Spending Cycle

  • Purchasing clerk – (recording)
  • Payables clerk – (recording)
  • Payables manager – (recording)
  • Receiving clerk – (custody)
  • Treasurer – (custody)
  • Shipping department – (custody)

• P__________ manager – (authorization)

A

Spending Cycle

  • Purchasing clerk – (recording)
  • Payables clerk – (recording)
  • Payables manager – (recording)
  • Receiving clerk – (custody)
  • Treasurer – (custody)
  • Shipping department – (custody)

• Purchasing manager – (authorization)

220
Q

Spending Cycle
(Purchases / Accounts Payable / Cash Disbursements)

There are certain issues involving the various purchase documents that are commonly repeated on the exam:

A

Spending Cycle
(Purchases / Accounts Payable / Cash Disbursements)

There are certain issues involving the various purchase documents that are commonly repeated on the exam:

221
Q

Spending Cycle

There are certain issues involving the various purchase documents that are commonly repeated on the exam:

• When the purchase or___ is prepared by the purchasing clerk to send to the vendor,

A

Spending Cycle

There are certain issues involving the various purchase documents that are commonly repeated on the exam:

• When the purchase order is prepared by the purchasing clerk to send to the vendor,

222
Q

Spending Cycle

There are certain issues involving the various purchase documents that are commonly repeated on the exam:

• When the purchase order is prepared by the purchasing c___k to send to the vendor,

A

Spending Cycle

There are certain issues involving the various purchase documents that are commonly repeated on the exam:

• When the purchase order is prepared by the purchasing clerk to send to the vendor,

223
Q

Spending Cycle

There are certain issues involving the various purchase documents that are commonly repeated on the exam:

• When the purchase order is prepared by the purchasing clerk to send to the v___or,

A

Spending Cycle

There are certain issues involving the various purchase documents that are commonly repeated on the exam:

• When the purchase order is prepared by the purchasing clerk to send to the vendor,

224
Q

Spending Cycle

There are certain issues involving the various purchase documents that are commonly repeated on the exam:

• When the p______se order is prepared by the purchasing clerk to send to the vendor,

additional copies of the order are sent to the receiving department

A

Spending Cycle

There are certain issues involving the various purchase documents that are commonly repeated on the exam:

• When the purchase order is prepared by the purchasing clerk to send to the vendor,

additional copies of the order are sent to the receiving department

225
Q

Spending Cycle

There are certain issues involving the various purchase documents that are commonly repeated on the exam:

• When the purchase order is prepared by the purchasing clerk to send to the vendor,

add_______ copies of the order are sent to the receiving department

A

Spending Cycle

There are certain issues involving the various purchase documents that are commonly repeated on the exam:

• When the purchase order is prepared by the purchasing clerk to send to the vendor,

additional copies of the order are sent to the receiving department

226
Q

Spending Cycle

There are certain issues involving the various purchase documents that are commonly repeated on the exam:

• When the purchase order is prepared by the purchasing clerk to send to the vendor,

additional copies of the or___ are sent to the receiving department

A

Spending Cycle

There are certain issues involving the various purchase documents that are commonly repeated on the exam:

• When the purchase order is prepared by the purchasing clerk to send to the vendor,

additional copies of the order are sent to the receiving department

227
Q

Spending Cycle

There are certain issues involving the various purchase documents that are commonly repeated on the exam:

• When the purchase order is prepared by the purchasing clerk to send to the vendor,

additional copies of the order are sent to the re____ing department

A

Spending Cycle

There are certain issues involving the various purchase documents that are commonly repeated on the exam:

• When the purchase order is prepared by the purchasing clerk to send to the vendor,

additional copies of the order are sent to the receiving department

228
Q

Spending Cycle

There are certain issues involving the various purchase documents that are commonly repeated on the exam:

• When the purchase order is prepared by the purchasing clerk to send to the vendor,

additional copies of the order are sent to the receiving department to aut______ them to accept delivery of the goods

A

Spending Cycle

There are certain issues involving the various purchase documents that are commonly repeated on the exam:

• When the purchase order is prepared by the purchasing clerk to send to the vendor,

additional copies of the order are sent to the receiving department to authorize them to accept delivery of the goods

229
Q

Spending Cycle

There are certain issues involving the various purchase documents that are commonly repeated on the exam:

• When the purchase order is prepared by the purchasing clerk to send to the vendor,

additional copies of the order are sent to the receiving department to authorize them to accept de_____y of the goods

A

Spending Cycle

There are certain issues involving the various purchase documents that are commonly repeated on the exam:

• When the purchase order is prepared by the purchasing clerk to send to the vendor,

additional copies of the order are sent to the receiving department to authorize them to accept delivery of the goods

230
Q

Spending Cycle

There are certain issues involving the various purchase documents that are commonly repeated on the exam:

• When the purchase order is prepared by the purchasing clerk to send to the vendor,

additional copies of the order are sent to the receiving department to authorize them to ac___t delivery of the goods

A

Spending Cycle

There are certain issues involving the various purchase documents that are commonly repeated on the exam:

• When the purchase order is prepared by the purchasing clerk to send to the vendor,

additional copies of the order are sent to the receiving department to authorize them to accept delivery of the goods

231
Q

Spending Cycle

There are certain issues involving the various purchase documents that are commonly repeated on the exam:

• When the purchase order is prepared by the purchasing clerk to send to the vendor,

additional copies of the order are sent to the receiving department to authorize them to accept delivery of the goods

and the pay_____s department

A

Spending Cycle

There are certain issues involving the various purchase documents that are commonly repeated on the exam:

• When the purchase order is prepared by the purchasing clerk to send to the vendor,

additional copies of the order are sent to the receiving department to authorize them to accept delivery of the goods

and the payables department

232
Q

Spending Cycle

There are certain issues involving the various purchase documents that are commonly repeated on the exam:

• When the purchase order is prepared by the purchasing clerk to send to the vendor,

additional copies of the order are sent to the receiving department to authorize them to accept delivery of the goods

and the payables department to enable them to do appropriate com______s later.

A

Spending Cycle

There are certain issues involving the various purchase documents that are commonly repeated on the exam:

• When the purchase order is prepared by the purchasing clerk to send to the vendor,

additional copies of the order are sent to the receiving department to authorize them to accept delivery of the goods

and the payables department to enable them to do appropriate comparisons later.

233
Q

Spending Cycle

There are certain issues involving the various purchase documents that are commonly repeated on the exam:

• When the purchase order is prepared by the purchasing clerk to send to the vendor,

additional copies of the order are sent to

the receiving department to authorize them to accept delivery of the goods

and the payables department to enable them to do app_______ comparisons later.

A

Spending Cycle

There are certain issues involving the various purchase documents that are commonly repeated on the exam:

• When the purchase order is prepared by the purchasing clerk to send to the vendor,

additional copies of the order are sent to

the receiving department to authorize them to accept delivery of the goods

and the payables department to enable them to do appropriate comparisons later.

234
Q

Spending Cycle

There are certain issues involving the various purchase documents that are commonly repeated on the exam:

• When the purchase order is prepared by the purchasing clerk to s__d to the vendor,

additional copies of the order are sent to

the receiving department to authorize them to accept delivery of the goods

and the payables department to enable them to do appropriate comparisons later.

A

Spending Cycle

There are certain issues involving the various purchase documents that are commonly repeated on the exam:

• When the purchase order is prepared by the purchasing clerk to send to the vendor,

additional copies of the order are sent to

the receiving department to authorize them to accept delivery of the goods

and the payables department to enable them to do appropriate comparisons later.

235
Q

Spending Cycle

There are certain issues involving the various purchase documents that are commonly repeated on the exam:

• When the purchase order is prepared by the purchasing clerk to send to the vendor, additional copies of the order are sent to the receiving department to authorize them to accept delivery of the goods and the payables department to enable them to do appropriate comparisons later.

The re____ing department copy does not include quantities for the goods ordered

A

Spending Cycle

There are certain issues involving the various purchase documents that are commonly repeated on the exam:

• When the purchase order is prepared by the purchasing clerk to send to the vendor, additional copies of the order are sent to the receiving department to authorize them to accept delivery of the goods and the payables department to enable them to do appropriate comparisons later.

The receiving department copy does not include quantities for the goods ordered

236
Q

Spending Cycle

There are certain issues involving the various purchase documents that are commonly repeated on the exam:

• When the purchase order is prepared by the purchasing clerk to send to the vendor……….

The receiving department copy does not include q_______es for the goods ordered

A

Spending Cycle

There are certain issues involving the various purchase documents that are commonly repeated on the exam:

• When the purchase order is prepared by the purchasing clerk to send to the vendor………..

The receiving department copy does not include quantities for the goods ordered

237
Q

Spending Cycle

There are certain issues involving the various purchase documents that are commonly repeated on the exam:

• When the purchase order is prepared by the purchasing clerk to send to the vendor….

The receiving department c__y does not include quantities for the goods ordered

A

Spending Cycle

There are certain issues involving the various purchase documents that are commonly repeated on the exam:

• When the purchase order is prepared by the purchasing clerk to send to the vendor….

The receiving department copy does not include quantities for the goods ordered

238
Q

Spending Cycle

There are certain issues involving the various purchase documents that are commonly repeated on the exam:

• When the purchase order is prepared by the purchasing clerk to send to the vendor….

The receiving department copy does n__ include quantities for the goods ordered

so as to ensure that the receiving department will perform an independent count of the goods delivered instead of relying on the purchase order numbers.

A

Spending Cycle

There are certain issues involving the various purchase documents that are commonly repeated on the exam:

• When the purchase order is prepared by the purchasing clerk to send to the vendor….

The receiving department copy does not include quantities for the goods ordered

so as to ensure that the receiving department will perform an independent count of the goods delivered instead of relying on the purchase order numbers.

239
Q

Spending Cycle

There are certain issues involving the various purchase documents that are commonly repeated on the exam:

• When the purchase order is prepared by the purchasing clerk to send to the vendor….

The receiving department copy does not include quantities for the goods ordered

so as to ensure that the re____ing department will perform an independent count of the goods delivered instead of relying on the purchase order numbers.

A

Spending Cycle

There are certain issues involving the various purchase documents that are commonly repeated on the exam:

• When the purchase order is prepared by the purchasing clerk to send to the vendor….

The receiving department copy does not include quantities for the goods ordered

so as to ensure that the receiving department will perform an independent count of the goods delivered instead of relying on the purchase order numbers.

240
Q

Spending Cycle

There are certain issues involving the various purchase documents that are commonly repeated on the exam:

• When the purchase order is prepared by the purchasing clerk to send to the vendor….

The receiving department copy does not include quantities for the goods ordered

so as to ensure that the receiving department will perform an independent c___t of the goods delivered instead of relying on the purchase order numbers.

A

Spending Cycle

There are certain issues involving the various purchase documents that are commonly repeated on the exam:

• When the purchase order is prepared by the purchasing clerk to send to the vendor….

The receiving department copy does not include quantities for the goods ordered

so as to ensure that the receiving department will perform an independent count of the goods delivered instead of relying on the purchase order numbers.

241
Q

Spending Cycle

There are certain issues involving the various purchase documents that are commonly repeated on the exam:

• When the purchase order is prepared by the purchasing clerk to send to the vendor….

The receiving department copy does not include quantities for the goods ordered

so as to ensure that the receiving department will perform an independent count of the goods d______red instead of relying on the purchase order numbers.

A

Spending Cycle

There are certain issues involving the various purchase documents that are commonly repeated on the exam:

• When the purchase order is prepared by the purchasing clerk to send to the vendor….

The receiving department copy does not include quantities for the goods ordered

so as to ensure that the receiving department will perform an independent count of the goods delivered instead of relying on the purchase order numbers.

242
Q

Spending Cycle

There are certain issues involving the various purchase documents that are commonly repeated on the exam:

• When the purchase order is prepared by the purchasing clerk to send to the vendor….

The receiving department copy does not include quantities for the goods ordered

so as to ensure that the receiving department will perform an independent count of the goods delivered instead of relying on the purchase order n_______s.

A

Spending Cycle

There are certain issues involving the various purchase documents that are commonly repeated on the exam:

• When the purchase order is prepared by the purchasing clerk to send to the vendor….

The receiving department copy does not include quantities for the goods ordered

so as to ensure that the receiving department will perform an independent count of the goods delivered instead of relying on the purchase order numbers.

243
Q

Spending Cycle

There are certain issues involving the various purchase documents that are commonly repeated on the exam:

• When the purchase order is prepared by the purchasing clerk to send to the vendor….

The receiving department copy does not include quantities for the goods ordered

so as to ensure that the receiving department will perform an independent count of the goods delivered instead of r___ing on the purchase order numbers.

A

Spending Cycle

There are certain issues involving the various purchase documents that are commonly repeated on the exam:

• When the purchase order is prepared by the purchasing clerk to send to the vendor….

The receiving department copy does not include quantities for the goods ordered

so as to ensure that the receiving department will perform an independent count of the goods delivered instead of relying on the purchase order numbers.

244
Q

Spending Cycle

There are certain issues involving the various purchase documents that are commonly repeated on the exam:

• When the purchase order is prepared by the purchasing clerk to send to the vendor, additional copies of the order are sent to the receiving department to authorize them to accept delivery of the goods and the payables department to enable them to do appropriate comparisons later.

The receiving de_________ copy does not include quantities for the goods ordered so as to ensure that the receiving department will perform an independent count of the goods delivered instead of relying on the purchase order numbers.

A

Spending Cycle

There are certain issues involving the various purchase documents that are commonly repeated on the exam:

• When the purchase order is prepared by the purchasing clerk to send to the vendor, additional copies of the order are sent to the receiving department to authorize them to accept delivery of the goods and the payables department to enable them to do appropriate comparisons later.

The receiving department copy does not include quantities for the goods ordered so as to ensure that the receiving department will perform an independent count of the goods delivered instead of relying on the purchase order numbers.

245
Q

Spending Cycle

There are certain issues involving the various purchase documents that are commonly repeated on the exam:

• When the purchase order is prepared by the purchasing clerk to send to the vendor,….

The receiving department copy does not include quantities for the goods ordered…

The pay_____ clerk compares the purchase order and receiving report with the vendor invoice

A

Spending Cycle

There are certain issues involving the various purchase documents that are commonly repeated on the exam:

• When the purchase order is prepared by the purchasing clerk to send to the vendor,….

The receiving department copy does not include quantities for the goods ordered…

The payables clerk compares the purchase order and receiving report with the vendor invoice

246
Q

Spending Cycle

There are certain issues involving the various purchase documents that are commonly repeated on the exam:

• When the purchase order is prepared by the purchasing clerk to send to the vendor,….

The receiving department copy does not include quantities for the goods ordered…

The payables clerk com___s the purchase order and receiving report with the vendor invoice

A

Spending Cycle

There are certain issues involving the various purchase documents that are commonly repeated on the exam:

• When the purchase order is prepared by the purchasing clerk to send to the vendor,….

The receiving department copy does not include quantities for the goods ordered…

The payables clerk compares the purchase order and receiving report with the vendor invoice

247
Q

Spending Cycle

There are certain issues involving the various purchase documents that are commonly repeated on the exam:

• The payables clerk compares the purchase or___ and receiving report with the vendor invoice to ensure they agree before preparing the payment voucher.

A

Spending Cycle

There are certain issues involving the various purchase documents that are commonly repeated on the exam:

• The payables clerk compares the purchase order and receiving report with the vendor invoice to ensure they agree before preparing the payment voucher.

248
Q

Spending Cycle

There are certain issues involving the various purchase documents that are commonly repeated on the exam:

• The payables clerk compares the purchase order and receiving re____ with the vendor invoice to ensure they agree before preparing the payment voucher.

A

Spending Cycle

There are certain issues involving the various purchase documents that are commonly repeated on the exam:

• The payables clerk compares the purchase order and receiving report with the vendor invoice to ensure they agree before preparing the payment voucher.

249
Q

Spending Cycle

There are certain issues involving the various purchase documents that are commonly repeated on the exam:

• The payables clerk compares the purchase order and receiving report with the v___or invoice to ensure they agree before preparing the payment voucher.

A

Spending Cycle

There are certain issues involving the various purchase documents that are commonly repeated on the exam:

• The payables clerk compares the purchase order and receiving report with the vendor invoice to ensure they agree before preparing the payment voucher.

250
Q

Spending Cycle

There are certain issues involving the various purchase documents that are commonly repeated on the exam:

• The payables clerk compares the purchase order and receiving report with the vendor invoice to ensure they ag___ before preparing the payment voucher.

A

Spending Cycle

There are certain issues involving the various purchase documents that are commonly repeated on the exam:

• The payables clerk compares the purchase order and receiving report with the vendor invoice to ensure they agree before preparing the payment voucher.

251
Q

Spending Cycle

There are certain issues involving the various purchase documents that are commonly repeated on the exam:

• The payables clerk compares the purchase order and receiving report with the vendor invoice to ensure they agree b_____ preparing the payment voucher.

A

Spending Cycle

There are certain issues involving the various purchase documents that are commonly repeated on the exam:

• The payables clerk compares the purchase order and receiving report with the vendor invoice to ensure they agree before preparing the payment voucher.

252
Q

Spending Cycle

There are certain issues involving the various purchase documents that are commonly repeated on the exam:

• The payables clerk compares the purchase order and receiving report with the vendor invoice to ensure they agree before preparing the payment vou____.

A

Spending Cycle

There are certain issues involving the various purchase documents that are commonly repeated on the exam:

• The payables clerk compares the purchase order and receiving report with the vendor invoice to ensure they agree before preparing the payment voucher.

253
Q

Spending Cycle

There are certain is___s involving the various purchase documents:

• When the purchase order is prepared by the purchasing clerk to send to the vendor, additional copies of the order are sent to the receiving department to authorize them to accept delivery of the goods and the payables department to enable them to do appropriate comparisons later.

The receiving department copy does not include quantities for the goods ordered so as to ensure that the receiving department will perform an independent count of the goods delivered instead of relying on the purchase order numbers.

The payables clerk compares the purchase order and receiving report with the vendor invoice to ensure they agree before preparing the payment voucher.

A

Spending Cycle

There are certain issues involving the various purchase documents:

• When the purchase order is prepared by the purchasing clerk to send to the vendor, additional copies of the order are sent to the receiving department to authorize them to accept delivery of the goods and the payables department to enable them to do appropriate comparisons later.

The receiving department copy does not include quantities for the goods ordered so as to ensure that the receiving department will perform an independent count of the goods delivered instead of relying on the purchase order numbers.

The payables clerk compares the purchase order and receiving report with the vendor invoice to ensure they agree before preparing the payment voucher.

254
Q

Spending Cycle

There are certain issues involving the various purchase documents:

• The ch__k for payment is usually prepared by a clerk in the treasury department who doesn’t have signature authority.

A

Spending Cycle

There are certain issues involving the various purchase documents:

• The check for payment is usually prepared by a clerk in the treasury department who doesn’t have signature authority.

255
Q

Spending Cycle

There are certain issues involving the various purchase documents:

• The check for payment is usually pr_____ed by a clerk in the treasury department who doesn’t have signature authority.

A

Spending Cycle

There are certain issues involving the various purchase documents:

• The check for payment is usually prepared by a clerk in the treasury department who doesn’t have signature authority.

256
Q

Spending Cycle

There are certain issues involving the various purchase documents:

• The check for payment is usually prepared by a clerk in the tr______y department who doesn’t have signature authority.

A

Spending Cycle

There are certain issues involving the various purchase documents:

• The check for payment is usually prepared by a clerk in the treasury department who doesn’t have signature authority.

257
Q

Spending Cycle

There are certain issues involving the various purchase documents:

• The check for payment is usually prepared by a clerk in the treasury department who doesn’t have signature a______.

A

Spending Cycle

There are certain issues involving the various purchase documents:

• The check for payment is usually prepared by a clerk in the treasury department who doesn’t have signature authority.

258
Q

Spending Cycle

There are certain issues involving the various purchase documents:

• The check for pay_____ is usually prepared by a clerk in the treasury department who doesn’t have signature authority.

A

Spending Cycle

There are certain issues involving the various purchase documents:

• The check for payment is usually prepared by a clerk in the treasury department who doesn’t have signature authority.

259
Q

Spending Cycle

There are certain issues involving the various purchase documents:

• The check for payment is usually prepared by a clerk in the treasury department who doesn’t have signature authority.

They will provide the un____ed check along with the payment voucher and supporting document to the treasurer for signature.

A

Spending Cycle

There are certain issues involving the various purchase documents:

• The check for payment is usually prepared by a clerk in the treasury department who doesn’t have signature authority.

They will provide the unsigned check along with the payment voucher and supporting document to the treasurer for signature.

260
Q

Spending Cycle

There are certain issues involving the various purchase documents:

• The check for payment is usually prepared by a clerk in the treasury department who doesn’t have signature authority.

They will provide the unsigned check along with the payment vou___r and supporting document to the treasurer for signature.

A

Spending Cycle

There are certain issues involving the various purchase documents:

• The check for payment is usually prepared by a clerk in the treasury department who doesn’t have signature authority.

They will provide the unsigned check along with the payment voucher and supporting document to the treasurer for signature.

261
Q

Spending Cycle

There are certain issues involving the various purchase documents:

• The check for payment is usually prepared by a clerk in the treasury department who doesn’t have signature authority.

They will provide the unsigned check along with the payment voucher and su_____ting document to the treasurer for signature.

A

Spending Cycle

There are certain issues involving the various purchase documents:

• The check for payment is usually prepared by a clerk in the treasury department who doesn’t have signature authority.

They will provide the unsigned check along with the payment voucher and supporting document to the treasurer for signature.

262
Q

Spending Cycle

There are certain issues involving the various purchase documents:

• The check for payment is usually prepared by a clerk in the treasury department who doesn’t have signature authority.

They will provide the unsigned check along with the payment voucher and supporting document to the tr______rer for signature.

A

Spending Cycle

There are certain issues involving the various purchase documents:

• The check for payment is usually prepared by a clerk in the treasury department who doesn’t have signature authority.

They will provide the unsigned check along with the payment voucher and supporting document to the treasurer for signature.

263
Q

Spending Cycle

There are certain issues involving the various purchase documents:

• The check for payment is usually prepared by a clerk in the treasury department who doesn’t have signature authority.

They will provide the unsigned check along with the payment voucher and supporting document to the treasurer for si_______re.

A

Spending Cycle

There are certain issues involving the various purchase documents:

• The check for payment is usually prepared by a clerk in the treasury department who doesn’t have signature authority.

They will provide the unsigned check along with the payment voucher and supporting document to the treasurer for signature.

264
Q

Spending Cycle

There are certain issues involving the various purchase documents:

• The check for payment is usually prepared by a clerk in the treasury department who doesn’t have signature authority.

They will provide the unsigned check along with the payment voucher and supporting document to the treasurer for signature.

The tr______rer makes sure the check agrees with the voucher and other documents before signing.

A

Spending Cycle

There are certain issues involving the various purchase documents:

• The check for payment is usually prepared by a clerk in the treasury department who doesn’t have signature authority.

They will provide the unsigned check along with the payment voucher and supporting document to the treasurer for signature.

The treasurer makes sure the check agrees with the voucher and other documents before signing.

265
Q

Spending Cycle

There are certain issues involving the various purchase documents:

• The check for payment is usually prepared by a clerk in the treasury department who doesn’t have signature authority.

The treasurer makes sure the ch__k agrees with the voucher and other documents before signing.

A

Spending Cycle

There are certain issues involving the various purchase documents:

• The check for payment is usually prepared by a clerk in the treasury department who doesn’t have signature authority.

The treasurer makes sure the check agrees with the voucher and other documents before signing.

266
Q

Spending Cycle

There are certain issues involving the various purchase documents:

• The check for payment is usually prepared by a clerk in the treasury department who doesn’t have signature authority.

The treasurer makes sure the check agrees with the vo___er and other documents before signing.

A

Spending Cycle

There are certain issues involving the various purchase documents:

• The check for payment is usually prepared by a clerk in the treasury department who doesn’t have signature authority.

The treasurer makes sure the check agrees with the voucher and other documents before signing.

267
Q

Spending Cycle

There are certain issues involving the various purchase documents:

• The check for payment is usually prepared by a clerk in the treasury department who doesn’t have signature authority.

The treasurer makes sure the check agrees with the voucher and other do_______ts before signing.

A

Spending Cycle

There are certain issues involving the various purchase documents:

• The check for payment is usually prepared by a clerk in the treasury department who doesn’t have signature authority.

The treasurer makes sure the check agrees with the voucher and other documents before signing.

268
Q

Spending Cycle

There are certain issues involving the various purchase documents:

• The check for payment is usually prepared by a clerk in the treasury department who doesn’t have signature authority.

The treasurer makes sure the check agrees with the voucher and other documents be___e signing.

A

Spending Cycle

There are certain issues involving the various purchase documents:

• The check for payment is usually prepared by a clerk in the treasury department who doesn’t have signature authority.

The treasurer makes sure the check agrees with the voucher and other documents before signing.

269
Q

Spending Cycle

There are certain issues involving the various purchase documents:

• The check for payment is usually prepared by a clerk in the treasury department who doesn’t have signature authority.

The treasurer makes sure the check agrees with the voucher and other documents before signing.

Immediately af___ signing, the treasurer

cancels the supporting documents (so that they won’t accidentally be processed again at a later time),

A

Spending Cycle

There are certain issues involving the various purchase documents:

• The check for payment is usually prepared by a clerk in the treasury department who doesn’t have signature authority.

The treasurer makes sure the check agrees with the voucher and other documents before signing.

Immediately after signing, the treasurer

cancels the supporting documents (so that they won’t accidentally be processed again at a later time),

270
Q

Spending Cycle

There are certain issues involving the various purchase documents:

• The check for payment is usually prepared by a clerk in the treasury department who doesn’t have signature authority.

The treasurer makes sure the check agrees with the voucher and other documents before signing.

Immediately after signing, the treasurer

can___s the supporting documents (so that they won’t accidentally be processed again at a later time),

A

Spending Cycle

There are certain issues involving the various purchase documents:

• The check for payment is usually prepared by a clerk in the treasury department who doesn’t have signature authority.

The treasurer makes sure the check agrees with the voucher and other documents before signing.

Immediately after signing, the treasurer

cancels the supporting documents (so that they won’t accidentally be processed again at a later time),

271
Q

Spending Cycle

There are certain issues involving the various purchase documents:

• The check for payment is usually prepared by a clerk in the treasury department who doesn’t have signature authority.

The treasurer makes sure the check agrees with the voucher and other documents before signing.

Immediately after signing, the treasurer

cancels the su_____ing documents (so that they won’t accidentally be processed again at a later time),

A

Spending Cycle

There are certain issues involving the various purchase documents:

• The check for payment is usually prepared by a clerk in the treasury department who doesn’t have signature authority.

The treasurer makes sure the check agrees with the voucher and other documents before signing.

Immediately after signing, the treasurer

cancels the supporting documents (so that they won’t accidentally be processed again at a later time),

272
Q

Spending Cycle

There are certain issues involving the various purchase documents:

• The check for payment is usually prepared by a clerk in the treasury department who doesn’t have signature authority.

The treasurer makes sure the check agrees with the voucher and other documents before signing.

Immediately after signing, the treasurer

cancels the supporting documents (so that they won’t accidentally be processed again at a later time),
places the ch__k in the envelope,

A

Spending Cycle

There are certain issues involving the various purchase documents:

• The check for payment is usually prepared by a clerk in the treasury department who doesn’t have signature authority.

The treasurer makes sure the check agrees with the voucher and other documents before signing.

Immediately after signing, the treasurer

cancels the supporting documents (so that they won’t accidentally be processed again at a later time),
places the check in the envelope,

273
Q

Spending Cycle

There are certain issues involving the various purchase documents:

• The check for payment is usually prepared by a clerk in the treasury department who doesn’t have signature authority.

The treasurer makes sure the check agrees with the voucher and other documents before signing.

Immediately after signing, the treasurer

cancels the supporting documents (so that they won’t accidentally be processed again at a later time),
places the check in the envelope,
s___s it,

A

Spending Cycle

There are certain issues involving the various purchase documents:

• The check for payment is usually prepared by a clerk in the treasury department who doesn’t have signature authority.

The treasurer makes sure the check agrees with the voucher and other documents before signing.

Immediately after signing, the treasurer

cancels the supporting documents (so that they won’t accidentally be processed again at a later time),
places the check in the envelope,
seals it,

274
Q

Spending Cycle

There are certain issues involving the various purchase documents:

• The check for payment is usually prepared by a clerk in the treasury department who doesn’t have signature authority.

The treasurer makes sure the check agrees with the voucher and other documents before signing.

Immediately after signing, the treasurer

cancels the supporting documents (so that they won’t accidentally be processed again at a later time),
places the check in the envelope,
seals it, and
arranges for m___ing.

A

Spending Cycle

There are certain issues involving the various purchase documents:

• The check for payment is usually prepared by a clerk in the treasury department who doesn’t have signature authority.

The treasurer makes sure the check agrees with the voucher and other documents before signing.

Immediately after signing, the treasurer

cancels the supporting documents (so that they won’t accidentally be processed again at a later time),
places the check in the envelope,
seals it, and
arranges for mailing.

275
Q

Spending Cycle

There are certain issues involving the various purchase documents:

• The check for pa___nt is usually prepared by a clerk in the treasury department who doesn’t have signature authority.

They will provide the unsigned check along with the payment voucher and supporting document to the treasurer for signature.

The treasurer makes sure the check agrees with the voucher and other documents before signing.

Immediately after signing, the treasurer cancels the supporting documents (so that they won’t accidentally be processed again at a later time), places the check in the envelope, seals it, and arranges for mailing.

A

Spending Cycle

There are certain issues involving the various purchase documents:

• The check for payment is usually prepared by a clerk in the treasury department who doesn’t have signature authority.

They will provide the unsigned check along with the payment voucher and supporting document to the treasurer for signature.

The treasurer makes sure the check agrees with the voucher and other documents before signing.

Immediately after signing, the treasurer cancels the supporting documents (so that they won’t accidentally be processed again at a later time), places the check in the envelope, seals it, and arranges for mailing.

276
Q

“Approves purchase requests before they are processed and negotiates terms with vendors”

The duties above most likely described which of the following job title?

  • Purchasing clerk – (recording)
  • Payables clerk – (recording)
  • Payables manager – (recording)
  • Treasurer – (custody)
  • Receiving clerk – (custody)
  • Shipping department – (custody)
  • Purchasing manager – (authorization)
A

• Purchasing manager

– Approves purchase requests before they are processed and negotiates terms with vendors (authorization).

277
Q

“Places orders with vendors.”

The duties above most likely described which of the following job title?

  • Purchasing clerk – (recording)
  • Payables clerk – (recording)
  • Payables manager – (recording)
  • Treasurer – (custody)
  • Receiving clerk – (custody)
  • Shipping department – (custody)
  • Purchasing manager – (authorization)
A

• Purchasing clerk

– Places orders with vendors (recording).

278
Q

“Receives delivery of goods from vendors.”

The duties above most likely described which of the following job title?

  • Purchasing clerk – (recording)
  • Payables clerk – (recording)
  • Payables manager – (recording)
  • Treasurer – (custody)
  • Receiving clerk – (custody)
  • Shipping department – (custody)
  • Purchasing manager – (authorization)
A

• Receiving clerk

– Receives delivery of goods from vendors (custody).

279
Q

“Prepares payment voucher which is the basis for authorizing the issuance of a check to the vendor after verifying the accuracy of the vendor invoice and comparing supporting documents.”

The duties above most likely described which of the following job title?

  • Purchasing clerk – (recording)
  • Payables clerk – (recording)
  • Payables manager – (recording)
  • Treasurer – (custody)
  • Receiving clerk – (custody)
  • Shipping department – (custody)
  • Purchasing manager – (authorization)
A

• Payables clerk

– Prepares payment voucher which is the basis for authorizing the issuance of a check to the vendor after verifying the accuracy of the vendor invoice and comparing supporting documents (recording).

280
Q

“Oversees the Posting of vouchers to appropriate purchase records.”

The duties above most likely described which of the following job title?

  • Purchasing clerk – (recording)
  • Payables clerk – (recording)
  • Payables manager – (recording)
  • Treasurer – (custody)
  • Receiving clerk – (custody)
  • Shipping department – (custody)
  • Purchasing manager – (authorization)
A

• Payables manager

– Oversees the Posting of vouchers to appropriate purchase records (recording).

281
Q

“Signs and mails check for payment.”

The duties above most likely described which of the following job title?

  • Purchasing clerk – (recording)
  • Payables clerk – (recording)
  • Payables manager – (recording)
  • Treasurer – (custody)
  • Receiving clerk – (custody)
  • Shipping department – (custody)
  • Purchasing manager – (authorization)
A

• Treasurer

– Signs and mails check for payment (custody).

282
Q

“Sends goods back to vendors when goods are nonconforming or a right to cancel an order is being exercised by the company.”

The duties above most likely described which of the following job title?

  • Purchasing clerk – (recording)
  • Payables clerk – (recording)
  • Payables manager – (recording)
  • Treasurer – (custody)
  • Receiving clerk – (custody)
  • Shipping department – (custody)
  • Purchasing manager – (authorization)
A

• Shipping department

– Sends goods back to vendors when goods are nonconforming or a right to cancel an order is being exercised by the company (custody).

283
Q

___________________ – Approves purchase requests before they are processed and negotiates terms with vendors (authorization).

A

Purchasing manager – Approves purchase requests before they are processed and negotiates terms with vendors (authorization).

284
Q

________________ – Places orders with vendors (recording).

A

Purchasing clerk – Places orders with vendors (recording).

285
Q

_________________ – Receives delivery of goods from vendors (custody).

A

Receiving clerk – Receives delivery of goods from vendors (custody).

286
Q

_______________ – Prepares payment voucher which is the basis for authorizing the issuance of a check to the vendor after verifying the accuracy of the vendor invoice and comparing supporting documents (recording).

A

Payables clerk – Prepares payment voucher which is the basis for authorizing the issuance of a check to the vendor after verifying the accuracy of the vendor invoice and comparing supporting documents (recording).

287
Q

__________________ – Oversees the Posting of vouchers to appropriate purchase records (recording).

A

Payables manager – Oversees the Posting of vouchers to appropriate purchase records (recording).

288
Q

___________ – Signs and mails check for payment (custody).

A

Treasurer – Signs and mails check for payment (custody).

289
Q

________________ – Sends goods back to vendors when goods are nonconforming or a right to cancel an order is being exercised by the company (custody).

A

Shipping department – Sends goods back to vendors when goods are nonconforming or a right to cancel an order is being exercised by the company (custody).

290
Q

Which department sends goods back to vendors when goods are nonconforming?

A

Which department sends goods back to vendors when goods are nonconforming?

Shipping department

– Sends goods back to vendors when goods are nonconforming or a right to cancel an order is being exercised by the company (custody).

291
Q

Who signs and mails check for payment?

A

Who signs and mails check for payment?

Treasurer

– Signs and mails check for payment (custody).

292
Q

Who oversees the Posting of vouchers?

A

Who oversees the Posting of vouchers?

Payables manager

– Oversees the Posting of vouchers to appropriate purchase records (recording).

293
Q

Who prepares payment voucher after verifying the accuracy of the vendor invoice and comparing supporting documents?

A

Who prepares payment voucher after verifying the accuracy of the vendor invoice and comparing supporting documents?

Payables clerk

– Prepares payment voucher which is the basis for authorizing the issuance of a check to the vendor after verifying the accuracy of the vendor invoice and comparing supporting documents (recording).

294
Q

Who receives delivery of goods from vendors?

A

Who receives delivery of goods from vendors?

Receiving clerk

– Receives delivery of goods from vendors (custody).

295
Q

Who places orders with vendors?

A

Who places orders with vendors?

Purchasing clerk

– Places orders with vendors (recording).

296
Q

Who approves purchase requests?

A

Who approves purchase requests?

Purchasing manager

– Approves purchase requests before they are processed and negotiates terms with vendors (authorization).

297
Q

Who negotiates terms with vendors?

A

Who negotiates terms with vendors?

Purchasing manager

– Approves purchase requests before they are processed and negotiates terms with vendors (authorization).

298
Q

“The internal request by the department in need for goods to be ordered by the purchasing department.”

What is the name of the document described above?

  • Purchase requisition
  • Purchase order
  • Receiving report
  • Purchase (vendor) invoice
  • Invoice register
  • Payment voucher
  • Purchase journal (or voucher register)
A

• Purchase requisition

– The internal request by the department in need for goods to be ordered by the purchasing department.

299
Q

“The external form mailed to the vendor to request that goods be delivered to the company.”

What is the name of the document described above?

  • Purchase requisition
  • Purchase order
  • Receiving report
  • Purchase (vendor) invoice
  • Invoice register
  • Payment voucher
  • Purchase journal (or voucher register)
A

• Purchase order

– The external form mailed to the vendor to request that goods be delivered to the company.

300
Q

“The document prepared in the receiving department and signed by the carrier to acknowledge the goods that have been delivered to the company.”

What is the name of the document described above?

  • Purchase requisition
  • Purchase order
  • Receiving report
  • Purchase (vendor) invoice
  • Invoice register
  • Payment voucher
  • Purchase journal (or voucher register)
A

• Receiving report

– The document prepared in the receiving department and signed by the carrier to acknowledge the goods that have been delivered to the company.

301
Q

“The document received from the vendor indicating the goods the vendor claims to have shipped.

This is the same document that is known as the sales invoice when considered from the vendor’s side of the transaction.”

What is the name of the document described above?

  • Purchase requisition
  • Purchase order
  • Receiving report
  • Purchase (vendor) invoice
  • Invoice register
  • Payment voucher
  • Purchase journal (or voucher register)
A

• Purchase (vendor) invoice

– The document received from the vendor indicating the goods the vendor claims to have shipped. This is the same document that is known as the sales invoice when considered from the vendor’s side of the transaction.

302
Q

“A book listing invoices received from vendors.”

What is the name of the document described above?

  • Purchase requisition
  • Purchase order
  • Receiving report
  • Purchase (vendor) invoice
  • Invoice register
  • Payment voucher
  • Purchase journal (or voucher register)
A

• Invoice register

– A book listing invoices received from vendors.

303
Q

“The document prepared by the payables clerk to request that a check be issued for payment to a vendor.”

What is the name of the document described above?

  • Purchase requisition
  • Purchase order
  • Receiving report
  • Purchase (vendor) invoice
  • Invoice register
  • Payment voucher
  • Purchase journal (or voucher register)
A

• Payment voucher

– The document prepared by the payables clerk to request that a check be issued for payment to a vendor.

304
Q

“A book listing all of the payment vouchers generated by the company.”

What is the name of the document described above?

  • Purchase requisition
  • Purchase order
  • Receiving report
  • Purchase (vendor) invoice
  • Invoice register
  • Payment voucher
  • Purchase journal (or voucher register)
A

• Purchase journal (or voucher register)

– A book listing all of the payment vouchers generated by the company.

305
Q

_____________ (or _____________) – A book listing all of the payment vouchers generated by the company.

A

Purchase journal (or voucher register) – A book listing all of the payment vouchers generated by the company.

306
Q

______________ – The document prepared by the payables clerk to request that a check be issued for payment to a vendor.

A

Payment voucher – The document prepared by the payables clerk to request that a check be issued for payment to a vendor.

307
Q

______________ – A book listing invoices received from vendors.

A

Invoice register – A book listing invoices received from vendors.

308
Q

___________ (vendor) _______ – The document received from the vendor indicating the goods the vendor claims to have shipped.

This is the same document that is known as the sales invoice when considered from the vendor’s side of the transaction.

A

Purchase (vendor) invoice – The document received from the vendor indicating the goods the vendor claims to have shipped.

This is the same document that is known as the sales invoice when considered from the vendor’s side of the transaction.

309
Q

________________ – The document prepared in the receiving department and signed by the carrier to acknowledge the goods that have been delivered to the company.

A

Receiving report – The document prepared in the receiving department and signed by the carrier to acknowledge the goods that have been delivered to the company.

310
Q

_______________ – The external form mailed to the vendor to request that goods be delivered to the company.

A

Purchase order – The external form mailed to the vendor to request that goods be delivered to the company.

311
Q

________________ – The internal request by the department in need for goods to be ordered by the purchasing department.

A

Purchase requisition – The internal request by the department in need for goods to be ordered by the purchasing department.

312
Q

When the purchase order is prepared by the purchasing clerk to send to

1) the vendor,

additional copies of the order are sent to

2) the ___________ department to authorize them to accept delivery of the goods

and 3) the payables department to enable them to do appropriate comparisons later.

A

When the purchase order is prepared by the purchasing clerk to send to

1) the vendor,

additional copies of the order are sent to

2) the receiving department to authorize them to accept delivery of the goods

and 3) the payables department to enable them to do appropriate comparisons later.

313
Q

When the purchase order is prepared by the purchasing clerk to send to

1) the vendor,

additional copies of the order are sent to

2) the receiving department to authorize them to accept delivery of the goods

and 3) the ___________ department to enable them to do appropriate comparisons later.

A

When the purchase order is prepared by the purchasing clerk to send to

1) the vendor,

additional copies of the order are sent to

2) the receiving department to authorize them to accept delivery of the goods

and 3) the payables department to enable them to do appropriate comparisons later.

314
Q

When the purchase order is prepared by the _____________ clerk to send to

1) the vendor,

additional copies of the order are sent to

2) the receiving department to authorize them to accept delivery of the goods

and 3) the payables department to enable them to do appropriate comparisons later.

A

When the purchase order is prepared by the purchasing clerk to send to

1) the vendor,

additional copies of the order are sent to

2) the receiving department to authorize them to accept delivery of the goods

and 3) the payables department to enable them to do appropriate comparisons later.

315
Q

When the purchase order is prepared by the purchasing clerk to send to

1) the ________,

additional copies of the order are sent to

2) the receiving department to authorize them to accept delivery of the goods

and 3) the payables department to enable them to do appropriate comparisons later.

A

When the purchase order is prepared by the purchasing clerk to send to

1) the vendor,

additional copies of the order are sent to

2) the receiving department to authorize them to accept delivery of the goods

and 3) the payables department to enable them to do appropriate comparisons later.

316
Q

When the __________ order is prepared by the purchasing clerk to send to

1) the vendor,

additional copies of the order are sent to

2) the receiving department to authorize them to accept delivery of the goods

and 3) the payables department to enable them to do appropriate comparisons later.

A

When the purchase order is prepared by the purchasing clerk to send to

1) the vendor,

additional copies of the order are sent to

2) the receiving department to authorize them to accept delivery of the goods

and 3) the payables department to enable them to do appropriate comparisons later.

317
Q

When the _________________ is prepared by the purchasing clerk to send to

1) the vendor,

additional copies of the order are sent to

2) the receiving department to authorize them to accept delivery of the goods

and 3) the payables department to enable them to do appropriate comparisons later.

A

When the purchase order is prepared by the purchasing clerk to send to

1) the vendor,

additional copies of the order are sent to

2) the receiving department to authorize them to accept delivery of the goods

and 3) the payables department to enable them to do appropriate comparisons later.

318
Q

When the purchase order is _________ by the purchasing clerk to send to

1) the vendor,

additional copies of the order are sent to

2) the receiving department to authorize them to accept delivery of the goods

and 3) the payables department to enable them to do appropriate comparisons later.

A

When the purchase order is prepared by the purchasing clerk to send to

1) the vendor,

additional copies of the order are sent to

2) the receiving department to authorize them to accept delivery of the goods

and 3) the payables department to enable them to do appropriate comparisons later.

319
Q

When the purchase order is prepared by the purchasing ______ to send to

1) the vendor,

additional copies of the order are sent to

2) the receiving department to authorize them to accept delivery of the goods

and 3) the payables department to enable them to do appropriate comparisons later.

A

When the purchase order is prepared by the purchasing clerk to send to

1) the vendor,

additional copies of the order are sent to

2) the receiving department to authorize them to accept delivery of the goods

and 3) the payables department to enable them to do appropriate comparisons later.

320
Q

When the purchase order is prepared by the purchasing clerk to send to

1) the vendor,

additional copies of the _____ are sent to

2) the receiving department to authorize them to accept delivery of the goods

and 3) the payables department to enable them to do appropriate comparisons later.

A

When the purchase order is prepared by the purchasing clerk to send to

1) the vendor,

additional copies of the order are sent to

2) the receiving department to authorize them to accept delivery of the goods

and 3) the payables department to enable them to do appropriate comparisons later.

321
Q

When the purchase order is prepared by the purchasing clerk to send to

1) the vendor,

additional copies of the order are sent to

2) the __________________ to authorize them to accept delivery of the goods

and 3) the payables department to enable them to do appropriate comparisons later.

A

When the purchase order is prepared by the purchasing clerk to send to

1) the vendor,

additional copies of the order are sent to

2) the receiving department to authorize them to accept delivery of the goods

and 3) the payables department to enable them to do appropriate comparisons later.

322
Q

When the purchase order is prepared by the purchasing clerk to send to

1) the vendor,

additional copies of the order are sent to

2) the receiving department to _________ them to accept delivery of the goods

and 3) the payables department to enable them to do appropriate comparisons later.

A

When the purchase order is prepared by the purchasing clerk to send to

1) the vendor,

additional copies of the order are sent to

2) the receiving department to authorize them to accept delivery of the goods

and 3) the payables department to enable them to do appropriate comparisons later.

323
Q

When the purchase order is prepared by the purchasing clerk to send to

1) the vendor,

additional copies of the order are sent to

2) the receiving department to authorize them to accept _________ of the goods

and 3) the payables department to enable them to do appropriate comparisons later.

A

When the purchase order is prepared by the purchasing clerk to send to

1) the vendor,

additional copies of the order are sent to

2) the receiving department to authorize them to accept delivery of the goods

and 3) the payables department to enable them to do appropriate comparisons later.

324
Q

When the purchase order is prepared by the purchasing clerk to send to

1) the vendor,

additional copies of the order are sent to

2) the receiving department to authorize them to accept delivery of the goods

and 3) the _________________ to enable them to do appropriate comparisons later.

A

When the purchase order is prepared by the purchasing clerk to send to

1) the vendor,

additional copies of the order are sent to

2) the receiving department to authorize them to accept delivery of the goods

and 3) the payables department to enable them to do appropriate comparisons later.

325
Q

When the purchase order is prepared by the purchasing clerk to send to

1) the vendor,

additional copies of the order are sent to

2) the receiving department to authorize them to accept delivery of the goods

and 3) the payables department to enable them to do appropriate ____________ later.

A

When the purchase order is prepared by the purchasing clerk to send to

1) the vendor,

additional copies of the order are sent to

2) the receiving department to authorize them to accept delivery of the goods

and 3) the payables department to enable them to do appropriate comparisons later.

326
Q

When the purchase order is prepared by the purchasing clerk to send to

1) the vendor,

additional _______ of the order are sent to

2) the receiving department to authorize them to accept delivery of the goods

and 3) the payables department to enable them to do appropriate comparisons later.

A

When the purchase order is prepared by the purchasing clerk to send to

1) the vendor,

additional copies of the order are sent to

2) the receiving department to authorize them to accept delivery of the goods

and 3) the payables department to enable them to do appropriate comparisons later.

327
Q

When the purchase order is prepared by the purchasing clerk to send to

1) the vendor,

additional copies of the order are ____ to

2) the receiving department to authorize them to accept delivery of the goods

and 3) the payables department to enable them to do appropriate comparisons later.

A

When the purchase order is prepared by the purchasing clerk to send to

1) the vendor,

additional copies of the order are sent to

2) the receiving department to authorize them to accept delivery of the goods

and 3) the payables department to enable them to do appropriate comparisons later.

328
Q

When the purchase order is prepared by the purchasing clerk to send to

1) the ______,

additional copies of the order are sent to

2) the _________ department to authorize them to accept delivery of the goods

and 3) the __________ department to enable them to do appropriate comparisons later.

A

When the purchase order is prepared by the purchasing clerk to send to

1) the vendor,

additional copies of the order are sent to

2) the receiving department to authorize them to accept delivery of the goods

and 3) the payables department to enable them to do appropriate comparisons later.

329
Q

What other two departments that need to have additional copies of purchase order?

  1. Vendor
  2. _________ department
  3. __________ department
A

What other two departments that need to have additional copies of purchase order?

  1. Vendor
  2. Receiving department
  3. Payables department

When the purchase order is prepared by the purchasing clerk to send to

1) the vendor,

additional copies of the order are sent to

2) the receiving department to authorize them to accept delivery of the goods

and 3) the payables department to enable them to do appropriate comparisons later.

330
Q

Why the receiving department need to have a copy of a purchase order from the purchasing clerk?

A

Why the receiving department need to have a copy of a purchase order from the purchasing clerk?

To authorize the receiving department to accept delivery of the goods

When the purchase order is prepared by the purchasing clerk to send to

1) the vendor,

additional copies of the order are sent to

2) the receiving department to authorize them to accept delivery of the goods

and 3) the payables department to enable them to do appropriate comparisons later.

331
Q

Why the payables department need to have a copy of a purchase order from the purchasing clerk?

A

Why the payables department need to have a copy of a purchase order from the purchasing clerk?

To enable the payables department to do appropriate comparisons later.

When the purchase order is prepared by the purchasing clerk to send to

1) the vendor,

additional copies of the order are sent to

2) the receiving department to authorize them to accept delivery of the goods

and 3) the payables department to enable them to do appropriate comparisons later.

332
Q

Why a copy of a purchase order for the receiving department does not include quantities for the goods ordered?

A

Why a copy of a purchase order for the receiving department does not include quantities for the goods ordered?

To ensure that the receiving department will perform an independent count of the goods delivered instead of relying on the purchase order numbers.

• The receiving department copy does not include quantities for the goods ordered so as to ensure that the receiving department will perform an independent count of the goods delivered instead of relying on the purchase order numbers.

333
Q

The _________ department purchase order copy does not include quantities for the goods ordered

A

The receiving department purchase order copy does not include quantities for the goods ordered

334
Q

The receiving department purchase order copy does not include _________ for the goods ordered

A

The receiving department purchase order copy does not include quantities for the goods ordered

335
Q

The receiving department purchase order copy does ___ include quantities for the goods ordered

so as to ensure that the receiving department will perform an independent count of the goods delivered instead of relying on the purchase order numbers.

A

The receiving department purchase order copy does not include quantities for the goods ordered

so as to ensure that the receiving department will perform an independent count of the goods delivered instead of relying on the purchase order numbers.

336
Q

The receiving department purchase order copy does not include quantities for the goods ordered

so as to ensure that the __________ department will perform an independent count of the goods delivered instead of relying on the purchase order numbers.

A

The receiving department purchase order copy does not include quantities for the goods ordered

so as to ensure that the receiving department will perform an independent count of the goods delivered instead of relying on the purchase order numbers.

337
Q

The receiving department purchase order copy does not include quantities for the goods ordered

so as to ensure that the receiving department will perform an ____________ count of the goods delivered instead of relying on the purchase order numbers.

A

The receiving department purchase order copy does not include quantities for the goods ordered

so as to ensure that the receiving department will perform an independent count of the goods delivered instead of relying on the purchase order numbers.

338
Q

The receiving department purchase order copy does not include quantities for the goods ordered

so as to ensure that the receiving department will perform an independent _____ of the goods delivered instead of relying on the purchase order numbers.

A

The receiving department purchase order copy does not include quantities for the goods ordered

so as to ensure that the receiving department will perform an independent count of the goods delivered instead of relying on the purchase order numbers.

339
Q

The receiving department purchase order copy does not include quantities for the goods ordered

so as to ensure that the receiving department will perform an independent count of the goods __________ instead of relying on the purchase order numbers.

A

The receiving department purchase order copy does not include quantities for the goods ordered

so as to ensure that the receiving department will perform an independent count of the goods delivered instead of relying on the purchase order numbers.

340
Q

The receiving department purchase order copy does not include quantities for the goods ordered

so as to ensure that the receiving department will perform an independent count of the goods delivered instead of relying on the _____________ numbers.

A

The receiving department purchase order copy does not include quantities for the goods ordered

so as to ensure that the receiving department will perform an independent count of the goods delivered instead of relying on the purchase order numbers.

341
Q

The receiving department purchase order copy does not include quantities for the goods ordered

so as to ensure that the receiving department will perform an independent count of the goods delivered instead of relying on the purchase order _________.

A

The receiving department purchase order copy does not include quantities for the goods ordered

so as to ensure that the receiving department will perform an independent count of the goods delivered instead of relying on the purchase order numbers.

342
Q

The receiving department purchase order copy does not include quantities for the goods ordered

so as to ensure that the __________________ will perform an independent count of the goods delivered instead of relying on the purchase order numbers.

A

The receiving department purchase order copy does not include quantities for the goods ordered

so as to ensure that the receiving department will perform an independent count of the goods delivered instead of relying on the purchase order numbers.

343
Q

The receiving department purchase order copy does not include quantities for the goods ordered

so as to ensure that the receiving department will _______ an independent count of the goods delivered instead of relying on the purchase order numbers.

A

The receiving department purchase order copy does not include quantities for the goods ordered

so as to ensure that the receiving department will perform an independent count of the goods delivered instead of relying on the purchase order numbers.

344
Q

The receiving department purchase order copy does not include quantities for the _______ ordered

so as to ensure that the receiving department will perform an independent count of the goods delivered instead of relying on the purchase order numbers.

A

The receiving department purchase order copy does not include quantities for the goods ordered

so as to ensure that the receiving department will perform an independent count of the goods delivered instead of relying on the purchase order numbers.

345
Q

The payables ____ compares

the 1) purchase order
and 2) receiving report
with the 3) vendor invoice

to ensure they agree before preparing the payment voucher.

A

The payables clerk compares

the 1) purchase order
and 2) receiving report
with the 3) vendor invoice

to ensure they agree before preparing the payment voucher.

346
Q

The _______ clerk compares

the 1) purchase order
and 2) receiving report
with the 3) vendor invoice

to ensure they agree before preparing the payment voucher.

A

The payables clerk compares

the 1) purchase order
and 2) receiving report
with the 3) vendor invoice

to ensure they agree before preparing the payment voucher.

347
Q

The payables clerk __________

the 1) purchase order
and 2) receiving report
with the 3) vendor invoice

to ensure they agree before preparing the payment voucher.

A

The payables clerk compares

the 1) purchase order
and 2) receiving report
with the 3) vendor invoice

to ensure they agree before preparing the payment voucher.

348
Q

The payables clerk compares

the 1) ________ order
and 2) receiving report
with the 3) vendor invoice

to ensure they agree before preparing the payment voucher.

A

The payables clerk compares

the 1) purchase order
and 2) receiving report
with the 3) vendor invoice

to ensure they agree before preparing the payment voucher.

349
Q

The payables clerk compares

the 1) purchase order
and 2) __________ report
with the 3) vendor invoice

to ensure they agree before preparing the payment voucher.

A

The payables clerk compares

the 1) purchase order
and 2) receiving report
with the 3) vendor invoice

to ensure they agree before preparing the payment voucher.

350
Q

The payables clerk compares

the 1) purchase order
and 2) receiving report
with the 3) vendor ________

to ensure they agree before preparing the payment voucher.

A

The payables clerk compares

the 1) purchase order
and 2) receiving report
with the 3) vendor invoice

to ensure they agree before preparing the payment voucher.

351
Q

The payables clerk compares

the 1) purchase _____
and 2) receiving report
with the 3) vendor invoice

to ensure they agree before preparing the payment voucher.

A

The payables clerk compares

the 1) purchase order
and 2) receiving report
with the 3) vendor invoice

to ensure they agree before preparing the payment voucher.

352
Q

The payables clerk compares

the 1) purchase order
and 2) receiving ______
with the 3) vendor invoice

to ensure they agree before preparing the payment voucher.

A

The payables clerk compares

the 1) purchase order
and 2) receiving report
with the 3) vendor invoice

to ensure they agree before preparing the payment voucher.

353
Q

The payables clerk compares

the 1) purchase order
and 2) receiving report
with the 3) ______ invoice

to ensure they agree before preparing the payment voucher.

A

The payables clerk compares

the 1) purchase order
and 2) receiving report
with the 3) vendor invoice

to ensure they agree before preparing the payment voucher.

354
Q

The payables clerk compares

the 1) purchase order
and 2) receiving report
with the 3) vendor invoice

to ensure they ______ before preparing the payment voucher.

A

The payables clerk compares

the 1) purchase order
and 2) receiving report
with the 3) vendor invoice

to ensure they agree before preparing the payment voucher.

355
Q

The payables clerk compares

the 1) purchase order
and 2) receiving report
with the 3) vendor invoice

to ensure they agree before __________ the payment voucher.

A

The payables clerk compares

the 1) purchase order
and 2) receiving report
with the 3) vendor invoice

to ensure they agree before preparing the payment voucher.

356
Q

The payables clerk compares

the 1) purchase order
and 2) receiving report
with the 3) vendor invoice

to ensure they agree before preparing the payment __________.

A

The payables clerk compares

the 1) purchase order
and 2) receiving report
with the 3) vendor invoice

to ensure they agree before preparing the payment voucher.

357
Q

The payables clerk compares

the 1) purchase order
and 2) receiving report
with the 3) vendor invoice

to ensure they agree before preparing the _________ voucher.

A

The payables clerk compares

the 1) purchase order
and 2) receiving report
with the 3) vendor invoice

to ensure they agree before preparing the payment voucher.

358
Q

The payables clerk compares

the 1) purchase order
and 2) receiving report
with the 3) vendor invoice

to ensure they agree ________ preparing the payment voucher.

A

The payables clerk compares

the 1) purchase order
and 2) receiving report
with the 3) vendor invoice

to ensure they agree before preparing the payment voucher.

359
Q

The payables clerk compares

the 1) _________ order
and 2) __________ report
with the 3) vendor __________

to ensure they agree before preparing the payment voucher.

A

The payables clerk compares

the 1) purchase order
and 2) receiving report
with the 3) vendor invoice

to ensure they agree before preparing the payment voucher.

360
Q

The ______________ compares

the 1) purchase order
and 2) receiving report
with the 3) vendor invoice

to ensure they agree before preparing the payment voucher.

A

The payables clerk compares

the 1) purchase order
and 2) receiving report
with the 3) vendor invoice

to ensure they agree before preparing the payment voucher.

361
Q

The payables clerk compares

the 1) purchase order
and 2) receiving report
with the 3) vendor invoice

to ensure they agree before ______________________________.

A

The payables clerk compares

the 1) purchase order
and 2) receiving report
with the 3) vendor invoice

to ensure they agree before preparing the payment voucher.

362
Q

The payables clerk compares

the 1) purchase ________
and 2) receiving _________
with the 3) _______ invoice

to ensure they _______ before preparing the payment voucher.

A

The payables clerk compares

the 1) purchase order
and 2) receiving report
with the 3) vendor invoice

to ensure they agree before preparing the payment voucher.

363
Q

Who compares the 1) purchase order and 2) receiving report with the 3) vendor invoice?

A

The payables clerk compares

the 1) purchase order
and 2) receiving report
with the 3) vendor invoice

to ensure they agree before preparing the payment voucher.

364
Q

Why the payables clerk need to compares the 1) purchase order and 2) receiving report with the 3) vendor invoice?

A

The payables clerk compares

the 1) purchase order
and 2) receiving report
with the 3) vendor invoice

to ensure they agree before preparing the payment voucher.

365
Q

What payables clerk need to do in order to ensure correct amount to pay to vendor before preparing the payment voucher?

A

The payables clerk compares

the 1) purchase order
and 2) receiving report
with the 3) vendor invoice

to ensure they agree before preparing the payment voucher.

366
Q

What are the 3 documents that the payables clerk need to do comparison before preparing payment voucher?

A

The payables clerk compares

the 1) purchase order
and 2) receiving report
with the 3) vendor invoice

to ensure they agree before preparing the payment voucher.

367
Q

Who usually provides the unsigned check along with the payment voucher and supporting document to the treasurer for signature?

A

Who usually provides the unsigned check along with the payment voucher and supporting document to the treasurer for signature?

A clerk in the treasury department

• The check for payment is usually prepared by a clerk in the treasury department who doesn’t have signature authority.

They will provide the unsigned check along with the payment voucher and supporting document to the treasurer for signature.

368
Q

What documents that a clerk in the treasury department provide to the treasurer for signature?

A

What documents that a clerk in the treasury department provide to the treasurer for signature?

1) Unsigned check
2) Payment voucher
3) Supporting document

• The check for payment is usually prepared by a clerk in the treasury department who doesn’t have signature authority.

They will provide the unsigned check along with the payment voucher and supporting document to the treasurer for signature.

369
Q

The ______ for payment is usually prepared by a clerk in the treasury department who doesn’t have signature authority.

They will provide

1) the unsigned check along with
2) the payment voucher and
3) supporting document

to the treasurer for signature.

A

The check for payment is usually prepared by a clerk in the treasury department who doesn’t have signature authority.

They will provide

1) the unsigned check along with
2) the payment voucher and
3) supporting document

to the treasurer for signature.

370
Q

The check for _______ is usually prepared by a clerk in the treasury department who doesn’t have signature authority.

They will provide

1) the unsigned check along with
2) the payment voucher and
3) supporting document

to the treasurer for signature.

A

The check for payment is usually prepared by a clerk in the treasury department who doesn’t have signature authority.

They will provide

1) the unsigned check along with
2) the payment voucher and
3) supporting document

to the treasurer for signature.

371
Q

The check for payment is usually ________ by a clerk in the treasury department who doesn’t have signature authority.

They will provide

1) the unsigned check along with
2) the payment voucher and
3) supporting document

to the treasurer for signature.

A

The check for payment is usually prepared by a clerk in the treasury department who doesn’t have signature authority.

They will provide

1) the unsigned check along with
2) the payment voucher and
3) supporting document

to the treasurer for signature.

372
Q

The check for payment is usually prepared by a ____ in the treasury department who doesn’t have signature authority.

They will provide

1) the unsigned check along with
2) the payment voucher and
3) supporting document

to the treasurer for signature.

A

The check for payment is usually prepared by a clerk in the treasury department who doesn’t have signature authority.

They will provide

1) the unsigned check along with
2) the payment voucher and
3) supporting document

to the treasurer for signature.

373
Q

The check for payment is usually prepared by a clerk in the _______ department who doesn’t have signature authority.

They will provide

1) the unsigned check along with
2) the payment voucher and
3) supporting document

to the treasurer for signature.

A

The check for payment is usually prepared by a clerk in the treasury department who doesn’t have signature authority.

They will provide

1) the unsigned check along with
2) the payment voucher and
3) supporting document

to the treasurer for signature.

374
Q

The check for payment is usually prepared by a clerk in the treasury department who doesn’t have __________ authority.

They will provide

1) the unsigned check along with
2) the payment voucher and
3) supporting document

to the treasurer for signature.

A

The check for payment is usually prepared by a clerk in the treasury department who doesn’t have signature authority.

They will provide

1) the unsigned check along with
2) the payment voucher and
3) supporting document

to the treasurer for signature.

375
Q

The check for payment is usually prepared by a clerk in the treasury department who doesn’t have signature authority.

They will provide

1) the __________ check along with
2) the payment voucher and
3) supporting document

to the treasurer for signature.

A

The check for payment is usually prepared by a clerk in the treasury department who doesn’t have signature authority.

They will provide

1) the unsigned check along with
2) the payment voucher and
3) supporting document

to the treasurer for signature.

376
Q

The check for payment is usually prepared by a clerk in the treasury department who doesn’t have signature authority.

They will provide

1) the unsigned _____ along with
2) the payment voucher and
3) supporting document

to the treasurer for signature.

A

The check for payment is usually prepared by a clerk in the treasury department who doesn’t have signature authority.

They will provide

1) the unsigned check along with
2) the payment voucher and
3) supporting document

to the treasurer for signature.

377
Q

The check for payment is usually prepared by a clerk in the treasury department who doesn’t have signature authority.

They will provide

1) the unsigned check along with
2) the payment _______ and
3) supporting document

to the treasurer for signature.

A

The check for payment is usually prepared by a clerk in the treasury department who doesn’t have signature authority.

They will provide

1) the unsigned check along with
2) the payment voucher and
3) supporting document

to the treasurer for signature.

378
Q

The check for payment is usually prepared by a clerk in the treasury department who doesn’t have signature authority.

They will provide

1) the unsigned check along with
2) the payment voucher and
3) supporting __________

to the treasurer for signature.

A

The check for payment is usually prepared by a clerk in the treasury department who doesn’t have signature authority.

They will provide

1) the unsigned check along with
2) the payment voucher and
3) supporting document

to the treasurer for signature.

379
Q

The check for payment is usually prepared by a clerk in the treasury department who doesn’t have signature authority.

They will provide

1) the unsigned check along with
2) the ________ voucher and
3) supporting document

to the treasurer for signature.

A

The check for payment is usually prepared by a clerk in the treasury department who doesn’t have signature authority.

They will provide

1) the unsigned check along with
2) the payment voucher and
3) supporting document

to the treasurer for signature.

380
Q

The check for payment is usually prepared by a clerk in the treasury department who doesn’t have signature authority.

They will provide

1) the unsigned check along with
2) the payment voucher and
3) __________ document

to the treasurer for signature.

A

The check for payment is usually prepared by a clerk in the treasury department who doesn’t have signature authority.

They will provide

1) the unsigned check along with
2) the payment voucher and
3) supporting document

to the treasurer for signature.

381
Q

The check for payment is usually prepared by a clerk in the treasury department who doesn’t have signature authority.

They will provide

1) the unsigned check along with
2) the payment voucher and
3) supporting document

to the _________ for signature.

A

The check for payment is usually prepared by a clerk in the treasury department who doesn’t have signature authority.

They will provide

1) the unsigned check along with
2) the payment voucher and
3) supporting document

to the treasurer for signature.

382
Q

The check for payment is usually prepared by a clerk in the treasury department who doesn’t have signature authority.

They will provide

1) the unsigned check along with
2) the payment voucher and
3) supporting document

to the treasurer for __________.

A

The check for payment is usually prepared by a clerk in the treasury department who doesn’t have signature authority.

They will provide

1) the unsigned check along with
2) the payment voucher and
3) supporting document

to the treasurer for signature.

383
Q

The check for payment is usually prepared by a _______________________ who doesn’t have signature authority.

They will provide

1) the unsigned check along with
2) the payment voucher and
3) supporting document

to the treasurer for signature.

A

The check for payment is usually prepared by a clerk in the treasury department who doesn’t have signature authority.

They will provide

1) the unsigned check along with
2) the payment voucher and
3) supporting document

to the treasurer for signature.

384
Q

The check for payment is usually prepared by a clerk in the treasury department who doesn’t have ______________________.

They will provide

1) the unsigned check along with
2) the payment voucher and
3) supporting document

to the treasurer for signature.

A

The check for payment is usually prepared by a clerk in the treasury department who doesn’t have signature authority.

They will provide

1) the unsigned check along with
2) the payment voucher and
3) supporting document

to the treasurer for signature.

385
Q

The check for payment is usually prepared by a clerk in the treasury department who doesn’t have signature authority.

They will ________

1) the unsigned check along with
2) the payment voucher and
3) supporting document

to the treasurer for signature.

A

The check for payment is usually prepared by a clerk in the treasury department who doesn’t have signature authority.

They will provide

1) the unsigned check along with
2) the payment voucher and
3) supporting document

to the treasurer for signature.

386
Q

The check for payment is usually prepared by a clerk in the treasury department who doesn’t have signature authority.

They will provide

1) the ______________ along with
2) the payment voucher and
3) supporting document

to the treasurer for signature.

A

The check for payment is usually prepared by a clerk in the treasury department who doesn’t have signature authority.

They will provide

1) the unsigned check along with
2) the payment voucher and
3) supporting document

to the treasurer for signature.

387
Q

The check for payment is usually prepared by a clerk in the treasury department who doesn’t have signature authority.

They will provide

1) the unsigned check along with
2) the ______________ and
3) supporting document

to the treasurer for signature.

A

The check for payment is usually prepared by a clerk in the treasury department who doesn’t have signature authority.

They will provide

1) the unsigned check along with
2) the payment voucher and
3) supporting document

to the treasurer for signature.

388
Q

The check for payment is usually prepared by a clerk in the treasury department who doesn’t have signature authority.

They will provide

1) the unsigned check along with
2) the payment voucher and
3) _____________________

to the treasurer for signature.

A

The check for payment is usually prepared by a clerk in the treasury department who doesn’t have signature authority.

They will provide

1) the unsigned check along with
2) the payment voucher and
3) supporting document

to the treasurer for signature.

389
Q

The check for payment is usually prepared by a clerk in the treasury department who doesn’t have signature authority.

They will provide

1) the unsigned ______ along with
2) the payment _________and
3) supporting ____________

to the treasurer for signature.

A

The check for payment is usually prepared by a clerk in the treasury department who doesn’t have signature authority.

They will provide

1) the unsigned check along with
2) the payment voucher and
3) supporting document

to the treasurer for signature.

390
Q

Why does the treasurer cancel the supporting documents immediately after signing check payment to vendors?

A

Why does the treasurer cancel the supporting documents immediately after signing check payment to vendors?

So that they won’t accidentally be processed again at a later time.

Immediately after signing, the treasurer cancels the supporting documents (so that they won’t accidentally be processed again at a later time), places the check in the envelope, seals it, and arranges for mailing.

391
Q

Who does the signing, cancel the supporting documents, place the check in the envelope, seal it, and arrange for mailing?

A

Who does the signing, cancel the supporting documents, place the check in the envelope, seal it, and arrange for mailing?

The treasurer

Immediately after signing, the treasurer cancels the supporting documents (so that they won’t accidentally be processed again at a later time), places the check in the envelope, seals it, and arranges for mailing.

392
Q

Who prepares check for payment to vendor?

A

Who prepares check for payment to vendor?

A clerk in the treasury department

• The check for payment is usually prepared by a clerk in the treasury department who doesn’t have signature authority.

CPA AUD Flashcards (62 decks)

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